As a homeowner, you may be concerned about the rising cost of electricity. US SolarWorks can help by installing efficient solar systems to help you decrease your energy dependence from the grid. US SolarWorks has experience in designing and installing residential solar systems and experience helping homeowners apply for financial incentives. By installing a solar system for your home, you are not only producing your own energy, but also helping the environment.
The Cost Effective Solution
If you are looking for ways to decrease your carbon footprint or save money on your electric bill, going solar is a great option. This cost-effective solution will decrease your energy consumption and also will help you stay environmentally conscious. US SolarWorks will work with you to determine how much energy you consume a year to properly size your system as well as educate you on rebates you qualify for to make your system even more cost-effective.
To get started, contact US SolarWorks today to take the next steps to go solar:
- Gather your electric bills- this is how we determine your annual energy consumption to size your system
- Evaluate your site- we check for shading issues to design the layout of your system
- Set up a site visit- this is where we meet you in person to discuss your needs and go over the solar system, proposal and any questions or concerns you may have for us
There are two financing options when you choose to go solar: purchase outright or obtain a bank loan. US SolarWorks will work with you to determine the best option for your budget.
Federal Tax Credit (ITC)
This tax credit is equal to 30% of expenditures for systems placed in service by December 31st of the previous year, with no maximum credit. This is calculated after all other rebates and incentives. The energy property must be operational in the year in which the credit is first taken, and certain line items may not qualify for the tax credit.
Renewable Energy Certificates (RECs or SRECs)
When you install a solar system in Rhode Island or Massachusetts, you can participate in the Renewable Energy Certificate credits based on the amount of energy your system produces. RECs are clean energy credits that are equivalent to one megawatt hour of energy generated by renewables. Solar production is monitored and automatically reported to the REC Broker which consolidates this production into megawatt hour packages to be sold. The cash value of the RECs is mailed to you quarterly.
Net metering is a great incentive policy because it allows you to avoid the cost of electric power when your system is not running at full capacity due to weather or nighttime. This billing mechanism allows solar generators to be compensated at the retail rate of electricity for surplus generation.
A net meter will allow the meter to run backwards to provide credit against what electricity is consumed at night or during other periods when electricity consumption exceeds the solar system’s production. Customers are only billed for their “net” energy use. Some months a customer could have a negative consumption – this is more production than consumption.
Rhode Island State Rebate Program
Rhode Island offers an attractive direct state rebate based on the size of the system. Currently they pay out $1/kW for a maximum of $8,000. The value of this state rebate is removed immediately and direction from the purchase price. US Solar Works makes this process easy by handling all of the rebate paperwork for you. If you choose to take advantage of the state rebate, you are eligible for net metering by not the feed-in tariff.
Rhode Island Feed-In Tariff
Through the Renewable Energy Growth Program (REG), Rhode Island residents have the option of purchasing your electricity at a premium price for a contracted period of time. If you choose to utilize the REG Program, you are not eligible for net metering or the state rebate program.