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The Renewable Energy Growth program pays solar owners $0.2723 per kWh for 15 years — locked at enrollment. That is a guaranteed $39,612 in income on a typical 8 kW system, paid monthly, separate from your electric bill.
REG stacks with net metering. You get both. Combined value exceeds $0.50/kWh in early years. No other state in New England comes close.
The Renewable Energy Growth (REG) program is a Rhode Island state incentive that pays solar system owners a fixed, above-market rate for every kilowatt-hour their system generates. Administered by Rhode Island Energy (formerly National Grid RI), REG was designed to accelerate solar adoption by guaranteeing income that makes solar financially compelling — regardless of federal policy changes.
In 2026, REG is more important than ever. The federal residential solar tax credit (Section 25D) expired on December 31, 2025. Homeowners who buy solar with cash or a loan now receive zero federal tax credits. But in Rhode Island, the REG program fills that gap — and then some.
REG pays more than the old ITC was worth
On an 8 kW system at $3.06/W ($24,480 gross cost), the old 30% ITC would have been worth $7,344. The REG program pays $39,612 over 15 years — that is 5.6x more valuable than the tax credit ever was. Rhode Island homeowners are better off with REG alone.
Unlike a one-time tax credit, REG provides ongoing monthly income. It is not a rebate. It is not a bill credit. Rhode Island Energy sends you a separate check (or electronic payment) every month for the electricity your panels produce. And the rate is locked the day you enroll — it never decreases, even as ceiling prices decline in future program years.
Your $0.2723/kWh rate never changes for 15 years — even if future PY rates drop
REG + net metering are separate income streams — you receive both simultaneously
REG income is paid independently from your electric bill — a true revenue stream
Mandated by RI law, administered by RI Energy — not dependent on federal policy
REG is not a bill credit. It is a separate payment for your solar production.
Your solar system generates electricity and a production meter records every kWh produced.
Rhode Island Energy reads your production meter monthly and multiplies total kWh by your locked REG rate ($0.2723/kWh).
You receive a separate REG payment — by check or electronic deposit — apart from your regular electric bill.
Simultaneously, any excess electricity exported to the grid earns net metering credits on your electric bill — a completely separate benefit.
REG pays based on total production (every kWh generated). Net metering credits apply to exported kWh (excess sent to grid). These are separate calculations. A system producing 808 kWh/month earns $220 in REG payments regardless of how much you self-consume — plus additional net metering credits for what you export.
REG ($39,612) + Net Metering ($33,750 over 15 years)
Each program year, Rhode Island Energy sets a ceiling price — the maximum rate paid to REG participants. When you enroll, your rate is locked at the ceiling price for your enrollment year. It does not change for the entire 15-year contract, even as ceiling prices adjust in future program years.
| Program Year | Ceiling Price | Status | 15-Year Value (8 kW) |
|---|---|---|---|
| PY2024 | $0.3012/kWh | Closed | $43,825 |
| PY2025 | $0.2861/kWh | Closed | $41,628 |
| PY2026Current | $0.2723/kWh | Open April 1 | $39,620 |
| PY2027 (est.) | ~$0.26/kWh | Estimated | $37,830 |
If you enroll in PY2026, your rate is $0.2723/kWh for the full 15 years — even though PY2027 is estimated at ~$0.26/kWh. Early enrollees in PY2024 locked in at $0.3012/kWh and still receive that higher rate today. This declining ceiling trend means enrolling sooner locks a higher rate. Each year you wait, the ceiling price may drop further.
PY2026 is $0.0138/kWh lower than PY2025. Over 15 years, that single-year decline costs $2,007 in lost REG income on an 8 kW system. The trend is clear: earlier enrollment means a higher locked rate. If you are considering solar in Rhode Island, the PY2026 window is the highest rate still available.
Enrollment opens April 1 on a first-come, first-served basis. Preparation is everything.
Select an installer experienced with the REG application process. They will handle most of the paperwork. NuWatt has enrolled hundreds of RI systems into REG.
Your installer submits a REG application to Rhode Island Energy during the enrollment window. The application includes system design, interconnection details, and site information.
Applications are accepted on a first-come, first-served basis when the enrollment window opens April 1. Spots fill quickly — your installer should submit immediately when the window opens.
Rhode Island Energy reviews your application and issues a conditional approval. You have 12 months from approval to complete installation and interconnection.
Complete your solar installation, pass inspection, and receive permission to operate (PTO) from Rhode Island Energy. Your installer coordinates the entire process.
Once your system is interconnected and generating, REG payments begin. You receive a monthly check or credit at $0.2723/kWh for every kWh produced — locked for 15 years.
Adjust your system size to see estimated monthly, annual, and 15-year REG payments at the PY2026 ceiling price of $0.2723/kWh.
Estimate your 15-year guaranteed REG income at $0.2723/kWh
| Year | Annual | Cumulative |
|---|---|---|
| Year 1 | $2,642 | $2,642 |
| Year 2 | $2,642 | $5,284 |
| Year 3 | $2,642 | $7,926 |
| Year 4 | $2,642 | $10,568 |
| Year 5 | $2,642 | $13,210 |
| Year 10 | $2,642 | $26,420 |
| Year 15 | $2,642 | $39,630 |
REG rate: $0.2723/kWh (PY2026 ceiling). Rate is fixed at enrollment for the full 15-year term. Production estimate: ~1,213 kWh/kW/year in Rhode Island.
REG payments are separate from net metering credits — you receive both. Enrollment opens April 1 annually on a first-come-first-served basis.
The calculator above shows REG income only. Your total solar savings also include net metering credits (~$2,250/yr for 8 kW), the REF upfront rebate (up to $5,000), sales tax exemption (~$1,714), and property tax exemption (~$362/yr). For a complete savings analysis, see our RI solar cost breakdown.
REG is not your only incentive. It stacks with every other RI solar program for a combined package no other state can match.
$0.2723/kWh for all production, 15-year term
80% retail credit for exports (post-4/2023), separate from REG
$0.65/W upfront rebate from Commerce RI
7% RI sales tax exempt on solar equipment and installation
Solar value exempt from property tax for 20 years
Expired Dec 31, 2025. $0 for homeowner cash/loan purchases.
On a system costing ~$24,480 gross ($19,480 after REF). Effective payback: under 4 years with REG.
Rhode Island and Massachusetts both offer production-based solar incentives. The difference in value is staggering.
| Feature | RI REG | MA SMART 3.0 |
|---|---|---|
| Rate per kWh | $0.2723/kWh * | $0.03/kWh |
| Contract term | 15 years | 20 years * |
| 15-year value (8 kW) | $39,612 * | $5,832 |
| 20-year value (8 kW) | $39,612 (ends at 15) * | $7,776 |
| Stacks with net metering | Yes | Yes |
| Rate type | Fixed at enrollment | Flat rate (SMART 3.0) |
| Enrollment | First-come April 1 | Rolling (capacity permitting) * |
| Annual cap | ~40 MW | 600 MW (PY2026) * |
| Battery adder | No REG adder | +$0.04/kWh * |
| Low-income adder | No REG adder | +$0.03/kWh (2x base) * |
| Net value advantage | 9x higher base rate * | Better adder ecosystem |
* = advantage in that category. Calculations based on 8 kW system, 1,213 kWh/kW/yr (RI), 1,215 kWh/kW/yr (MA).
The RI REG program pays 9 times more per kWh than MA SMART 3.0 for residential systems. Over 15 years, an 8 kW system in Rhode Island earns $39,612 in REG income compared to $5,832 from SMART (even with SMART's longer 20-year term). Massachusetts has better adder options (battery, low-income, canopy), but even with the maximum MA adders, REG's base rate alone produces more total income. This is why Rhode Island has the best solar incentive in New England.
Pascoag and Block Island Power customers may have separate solar incentive programs. Contact your utility directly for details.
Cash or Loan purchase
You own the system and keep 100% of REG payments. $2,641/year goes directly to you. This is the best option for maximizing REG value.
Lease or PPA
The third-party system owner typically enrolls the system in REG and keeps the REG payments. The benefit is passed to you as a lower lease/PPA rate. The third-party also claims the Section 48 ITC (30%). While you do not receive direct REG income, the combined ITC + REG savings lower your monthly cost.
Everything you need to know about the Renewable Energy Growth program.
The REG ceiling price for Program Year 2026 is $0.2723 per kWh for residential systems (up to 25 kW). This rate is fixed at enrollment for the entire 15-year contract term. The rate has declined from $0.2861/kWh (PY2025) and $0.3012/kWh (PY2024), but remains among the most valuable solar incentive rates in the nation at over 9 times the MA SMART rate.
REG payments and net metering are completely separate income streams. REG pays you $0.2723/kWh based on your total solar production — every kWh your panels generate, regardless of whether you use it or export it. Net metering credits offset your electric bill based on excess kWh exported to the grid (80% of retail rate for post-April 2023 systems). You receive both simultaneously, which is why the combined value can exceed $0.50/kWh.
REG enrollment opens April 1 each year on a first-come, first-served basis. The annual residential + small commercial cap is approximately 40 MW, and spots fill quickly. Your installer submits the application to Rhode Island Energy on your behalf. We recommend starting the process in February-March so your installer has everything ready to submit the moment the window opens. NuWatt submits applications the minute enrollment opens.
If you are installing a new solar system, you can enroll in both REG and net metering simultaneously. However, existing solar systems that were not enrolled in REG at the time of installation cannot retroactively enroll. REG enrollment must be approved before or at the time of system installation. This is why timing your installation with the April enrollment window is critical.
After 15 years, your REG payments stop, but your solar system continues generating electricity. You still benefit from net metering credits (guaranteed through 2039 in RI) and avoid retail electricity costs. Solar panels typically last 25-30+ years with 80%+ production at year 25. Your system is fully paid off and generates free electricity for the remaining life of the panels.
The federal residential solar tax credit (Section 25D) expired on December 31, 2025, under the OBBBA. Homeowners who purchase solar with cash or a loan in 2026 receive $0 in federal tax credits, regardless of REG enrollment. However, the REG program more than compensates: $39,612 in 15-year REG income on an 8 kW system exceeds what the old 30% ITC would have provided. Third-party owned systems (lease/PPA) can still access the commercial ITC (Section 48/48E) through the financing company.
The REG program is first-come, first-served and the 40 MW cap fills fast. Start the process now so your application is ready the day enrollment opens. NuWatt has enrolled hundreds of RI systems into REG and submits applications the minute the window opens.
Complete overview of solar in Rhode Island
Pricing data, payback, and savings analysis
$0.65/W upfront rebate — how to apply
How net metering works and stacks with REG
Why RI solar still makes sense post-ITC
Personalized REG estimate for your home