Just about everyone I talk to about renewable energy says that they want solar panels on their roof. Not only do you get the warm and fuzzy feeling of helping save the planet, but in the long run it’s a great investment.
Even without any support through state incentives, solar systems will pay for themselves in a little over a decade, after which they generate energy cost savings for decades. For most people though, that 10 year pay back period is just a little too long, and the upfront capital just a little too large to justify the investment. As a result, Rhode Island’s residential renewable energy industry has been anemic in the years since 2010 when the State’s renewable energy tax credit program was phased out.
Rhode Island solar installers have been forced to look for work in Connecticut and Massachusetts where strong renewable incentive programs have stayed in place. For the sake of the environment and our struggling economy, it’s time to rectify this situation. The good news is that there are already a couple of new programs in place that should help, and there a couple of renewable energy legislative initiatives that could become law this session.
First, what we have:
- Commerce RI (formerly the EDC) has grants available through its Renewable Energy Development Fund (REF). Installers apply for these grants, and they are handed out in three rounds. The first deadline is on April 7th, so if you’re interested in a solar array, find an installer today and let them know. (These are also available for commercial scale projects, so don’t be afraid to think big. Last year, the REF was underutilized)
- PACE: Last year the General Assembly enacted the Property Assessed Clean Energy financing program which makes it easier for individuals to finance renewable projects by amortizing and attaching them to a property’s tax assessment for up to 20 years. More info here. Basically, you get to pay for your system in installments rather than all at once. The only problem is that each municipality has to adopt the PACE program individually through resolution. It’s not too early to start asking your council members whether your town is on board.
Second, the potential:
All together these programs would make Rhode Island a national leader in supporting renewable energy. They would be a boon to our still struggling building trades, a major benefit to the homeowners smart enough to invest in solar, and a way to reduce our carbon emissions and reliance on dirty foreign fossil fuels. What are we waiting for?!
A proposed pipeline that would transport fracked gas from Pennsylvania – through Burrlliville, Rhode Island – on its way to Canada is being sold to the American people on the promise of lowering northeast energy prices. But we know fracking contaminates water and we know the new pipeline will keep the public’s energy supply married to fracking industry for the next half century.
