Have you heard the great news about renewable energy funding in Rhode Island? Gov. Lincoln Chafee and the Rhode Island Economic Development Corporation (RIEDC) have approved $1.5M in 2013 Renewable Energy Funds for residential projects!

Under the recently approved rules, the grant funds can cover 25% of system cost for homeowners – up to $10,000 or 10KW – in addition to the 30% Federal income tax credit. In order for a project to be eligible for the funds, a home energy audit must have been conducted prior to the application being submitted.

According to the RIEDC, residential grant applications must be submitted in groups of at least three solar projects. To help Rhode Island homeowners access the funding, local community groups and local solar installers are expected to pool projects and submit group applications.

There will be 3 application rounds for the small-scale solar program:

• February 15, 2013
• April 30, 2013
• July 26, 2013

The first application deadline is less than a month away, and grant awards are based on funding availability so it is imperative that interested homeowners act fast!