RENEWABLE ENERGY FUND

Reduce Your Electric Costs With the Renewable Energy Fund

With help from the Renewable Energy Fund (REF), you can reap the benefits of the cost-effective, renewable energy produced by solar panels. The funding provided by REF grants enables solar companies to help home and business owners produce electricity cleanly and sustainably, giving you even more reason to invest in solar energy solutions from Blue Light Energy LLC!

Small-Scale Program

Home or micro business owners in Rhode Island may be eligible for the Rhode Island Commerce Corporation’s small-scale solar program! Grants for renewable energy are available to help you significantly lower your electric bills by covering 10-25% of your renewable energy installation costs. Both photovoltaic (PV) and solar domestic hot water (SDHW) technologies are covered.


Current REF Incentive Levels


With direct ownership, the REF provides funding of up to $5,000 per project with $0.65/W for up to 7.69 kW. Any project above that amount will receive the maximum funding. With the energy storage adder, the REF will award $2,000 for each project with an energy storage component. The project must meet eligibility requirements and have a renewable energy component that is concurrently awarded funding through the REF Small-Scale Program.


How to Maximize Your Renewable Energy Return on Investment

 

While a solar PV system does require up-front installation and equipment costs, these costs can be offset by a 30% federal Investment Tax Credit for qualified projects and a 10-25% subsidy from the REF grant program. You can also get an energy audit to decrease your electric load. Over time, you'll enjoy significant benefits, including avoided electricity costs and net metering!


Your project must meet a TSRF (shade analysis) requirement of 80% or higher to qualify.

Commercial-Scale Program

If your business, non-profit, academic institution, or other organization is considering a large-scale solar panel installation project, you may be eligible for the REF grant program! Lower your electric bills significantly with the help of the Rhode Island Commerce Corporation. Grants for renewable energy could cover up to 30% of your installation costs. Depending on the project, an REF grant could bring payback periods down to five to eight years when combined with a 30% Federal Investment Tax Credit (ITC). Reach out to the knowledgeable team members at Blue Light Energy LLC today to find out more.

Contact Us Today to Learn More

Make your home or commercial building more sustainable with solar installation services from Blue Light Energy LLC. Contact us today to learn more about how the Renewable Energy Fund can help with your small-scale or commercial solar installation project. We’re proud to serve residential and commercial property owners in Bristol County, MA; Barnstable County, MA; Norfolk County, MA; Plymouth County, MA; Worcester County, MA; Bristol County, RI; Kent County, RI; Providence County, RI; Newport County, RI; Washington County, RI; and the surrounding areas.

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