Want To Go Solar? Now’s Your Chance!

Those who have considered investing time and resources into the installation of solar panels may think of the environmental and economic benefits of such a decision; certainly they can prove to be a cost-saving maneuver. However, property owners in Rhode Island may also be able to get paid for the work their solar panels do.

National Grid currently offers a performance-based incentive program for solar panel owners, which essentially pays owners a flat rate per kilowatt-hour of extra energy the solar panels create each month. Owners receive bill credit for the energy that covers their own electricity usage over a given month.

There are three tiers of rates possible, depending on the amount of energy being produced. A base rate of 37.65 cents per kilowatt-hour is extended to all solar panel owners, even those without an energy audit.

Owners have the option to conduct an audit, during which a representative from RISE Engineering, a Cranston-based energy product company, will assess the potential output of the system, as well as make other recommendations for energy consumption.

Completing an audit results in a slight increase in the pay rate for excess energy. Those who have an audit will be eligible for the two higher tiers of payment, which are based on the estimated savings. For those who are estimated to save at least 15%, the rate rises to 39.53 cents per kilowatt-hour. If a system is projected to save an additional 400 kilowatt-hours of energy, owners would receive a tier-two rate of 41.42 cents per kilowatt-hour. Those who have completed all weatherization work on the solar panels would also be eligible for the tier-two rate.

According to SolarWise, the website National Grid has set up to assist potential and current customers with installation rate comparisons, PBI information and other details, this “dual benefit” system will pay out for a range of 15 to 20 years. After that, owners have the option to enroll in net metering, which offers a bill credit for excess energy, but does not pay out in monthly cash installments.

“At the end of the tariff period, customers become eligible for net-metering, if applicable, where excess solar energy production (in kWh) is credited on their electricity bill against the total amount consumed each month,” the website states.

SolarWise was launched last year, as part of a National Grid initiative to grow renewable energy sources in Rhode Island.