Residential
Residential

Incentives for Going Solar in Your Home with WattSun

 

Rhode Island

  • Renewable Energy Growth Tariff

This incentive is an alternative option to the Renewable Energy Fund Grant (below) for National Grid customers only and more than covers the entire cost of the solar power system. Rhode Island Homeowners will sell their solar produced kWhs on either a 15 or 20-year contract with National Grid at a fixed premium rate per kWh (currently available at over double your retail utility rate). Qualified homeowners can eliminate their utility bill and pay for any program financing expenses so there are no out-of-pocket costs. This is paid directly by National Grid as a cash credit onto your utility bill and the remainder as a cash disbursement into your bank account at the end of each month. WattSun Solar will handle all of your paperwork to secure this incentive contract so it's a hassle-free experience for our customers.

 

  • Renewable Energy Fund Grant

There is currently a grant of $1.15 per installed watt of solar photovoltaic capacity being offered by the Rhode Island Commerce Corporation. There is a maximum amount of $10,000 per meter on any property. WattSun Solar will handle all of your paperwork on this grant so it's a hassle-free experience for our customers.

 

  • Federal Tax Credit

A taxpayer may claim a tax credit of 30% of total system installation cost against their federal tax liability. The tax credit has no maximum amount and may be carried to the succeeding tax years. 

 

Massachusetts

  • Solar Renewable Energy Certificates (SREC's)

The SREC's available in Massachusetts vary per MWH's and get paid out to the homeowner on a quarterly basis by their Utility Company. These SREC's can be sold on an open marketplace for cash value. This fantastic incentive drastically reduces the overall cost of owning a solar system.

 

  • Net Metering

Net metering allows customers of certain electric distribution companies to generate their own electricity in order to offset their electricity usage.  All customer classes are eligible for net metering.  Common examples of net metering installations include solar panels on a home or a wind turbine at a school.  These installations are connected to a meter, which will measure the net quantity of electricity that the customer uses (“retail meter”).  The retail meter spins forward when the customer uses electricity from the distribution company, and it spins backward when the customer generates excess electricity (thereby “exporting” electricity to the electric grid).  A special retail meter (also called the “net meter”) is required to allow for the “netting” of usage and generation, especially when there may be exporting of electricity.

 

  • Federal Tax Credit

A taxpayer may claim a tax credit of 30% of total system installation cost against their federal tax liability. The tax credit has no maximum amount and may be carried to the succeeding tax years. 

 

 

Questions?

WattSun Solar

1343 Main Street Suite B

West Warwick, RI 02893

 

Phone:

(800) 847-1047

Local Phone: 

(401) 821-WATT        

(401) 821-9288  

Fax:

(888) 519-2798

Email:

info@wattsunsolar.com

Or use our contact form.

 

Licensed in these states:

RI Reg. 38851
MA Reg. 182048

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