Straight from the RI.gov website:

“There are two solar PV incentive programs in Rhode Island. One is called Net-Metering and can be paired with a grant from the Renewable Energy Fund (REF), and one is called the Renewable Energy Growth (REG) program. You can choose one program or the other, but not both.

Net Metering

The net-metering program is one of two solar programs available to homeowners and businesses interested in going solar. Customers can choose to have a net-metered system, OR an REG system (see below), but not both. The decision is binding for the lifetime of the contract. Net-metering is a mechanism for crediting the power produced by renewable energy systems installed behind a customer meter. Net-metering allows customers with eligible renewable energy systems to receive bill credits for all power generated up to 125 percent of the on-site consumption during a billing period. To participate in net metering, a renewable energy system must be sited on the customer’s premises. Eligible customer-sited net metering systems must be sized to meet on-site loads, based on a three-year average of electricity consumption at the property. For more information on net-metering, visit: https://energy.ri.gov/renewable-energy/wind/net-metering

Renewable Energy Fund (REF) Small-Scale Solar Program

Homeowners are eligible for the Small-Scale solar program. Your selected solar installer will apply to the REF on your behalf. This grant is available for Net-Metered systems only. After the solar PV system is installed, the grant will go directly to the installer after the completion paperwork is processed and a quality assurance evaluation of the system is complete. If using the REF Small Scale program, make sure the turnkey contract with your installer clearly shows how much the grant is for and includes a clause with an option for cancellation in case the grant program becomes fully subscribed. This is a popular program with a limited annual amount of funding.

Funding: Small Scale: $.65/watt, max $5,000 per customer, $190,000/installer

Energy Storage Adder Incentive: Flat $2,000/project for solar+storage systems”

Straight from the Mass.gov website:

The Solar Massachusetts Renewable Target (SMART) Program is DOER's incentive program established to support the development of solar in Massachusetts. The DOER regulation in 225 CMR 20.00 sets the regulatory framework for the program. The tariff-based incentive is paid directly by the utility company to the system owner, following the approval of the application by the Solar Program Administrator and DOER.

The SMART Program is a 3,200 MW declining block incentive program. Eligible projects must be interconnected by one of three investor owned utility companies in Massachusetts: Eversource, National Grid, and Unitil. Each utility has established blocks that decline in incentive rates between each block.

To learn more: https://www.mass.gov/info-details/solar-massachusetts-renewable-target-smart-program#open-proceedings-

The Federal Investment Tax Credit:

A tax credit is a dollar-for-dollar reduction in the taxes that you would otherwise owe the federal government and is based on the total installed project cost. Not everyone has the tax liability to claim the ITC (e.g., retired persons, persons on disability, etc.) Please consult a tax professional for more information on whether you have the tax liability to claim the ITC. As a state agency, RI OER is not authorized to provide tax advice.

The Federal Investment Tax Credit (ITC) can be paired with any of the solar program options below. The ITC is currently a 30% federal tax credit claimed against the solar installation to reduce the income taxes that a person or company claiming the credit would otherwise pay the federal government. The Section 25D residential ITC allows the homeowner to apply the credit to his/her personal income taxes. This credit is used when homeowners purchase solar systems outright and have them installed on their homes. In the case of the Section 48 credit, the business that installs, develops and/or finances the project claims the credit. If you have any further questions about tax credits or whether you have the liability to claim it, please consult a tax professional. To learn more, visit: http://www.seia.org/policy/finance-tax/solar-investment-tax-credit.

Financing is available. Local Solar and Electric partners with various banks to make solar panels more financially accessible.