Current state, federal incentives for renewable energy

n R.I. Renewable Energy Fund – Provides grants and loans to residential, commercial and municipal consumers for renewable energy installations and feasibility studies. The fund is supported by a surcharge paid by electric ratepayers. The majority of Rhode Island REF grants and loans have been provided in the last three years with the majority going toward solar-related projects.

n Federal tax credit – The federal government provides a 30 percent tax credit for residential and business renewable energy installations through the end of 2016.

n R.I. sales tax exemption – Rhode Island law exempts eligible renewable energy equipment from the state’s sale tax.

Recent Rhode Island projects:

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n Toray Plastic (America) Inc. in 2011 constructed a $2 million, 445-kilowatt solar farm on 3 acres of its 70-acre campus in North Kingstown. The solar farm received $750,000 from the REF and $250,000 in federal stimulus money.

n D.E. Shaw Renewable Investments LLC last June completed a 3.7-megawatt solar farm on the Forbes Street landfill in East Providence. SolBright Renewable Energy operates the farm, which is leased to East Providence. The state awarded the project $300,000 from the Renewable Energy Fund and it received another $100,000 in federal stimulus funds.

n Hodges Badge Co. Inc. in 2012 erected a 250,000 kilowatt onshore wind turbine. The manufacturing company received a combined $391,000 from the REF and the American Recovery and Reinvestment Act.

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