High electricity rates make Rhode Island solar attractive despite limited sun hours, with National Grid's REG program providing additional support.
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Rhode Island's solar economics benefit from high electricity rates: With 24¢/kWh electricity rates offsetting modest 4.0 daily peak sun hours, the Ocean State offers strong solar returns. National Grid provides net metering and the REG program offers additional incentives.
For Providence and Newport residents, solar systems typically pay for themselves in 8-10 years. High electricity costs and state programs make solar compelling in the nation's smallest state.
| Incentive | Amount | Status |
|---|---|---|
| Federal ITC | 30% of system cost | Active |
| REG Program | Performance incentives | Available |
| National Grid Net Metering | Full retail rate | Active |
| Property Tax Exemption | 100% of added value | Active |
| System size | Gross cost | After ITC & REG | Annual savings | Payback |
|---|---|---|---|---|
| 6 kW | $19,800 | $12,860 | ~$1,440/yr | ~8.9 years |
| 8 kW | $26,400 | $17,480 | ~$1,920/yr | ~9.1 years |