Rhode Island is about to become the first state to install solar projects for low- to moderate-income single-family residences using cash from the Inflation Reduction Act. For these initiatives, the state is looking for a company to collaborate with.
For companies that could offer solar leases and or purchase power agreements to low-to-moderate income households, or households with an income that is 80% or less than the area median income in Rhode Island, the state of Rhode Island issued a request for proposals in December under the name Affordable Solar Access Pathways RFP. Additionally, the homes are going to be in the environmental justice emphasis zones that the Rhode Island Department of Environmental Management has established.
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The initiative may be the first of its kind in the nation under the new Inflation Reduction Act, which provides grant money for initiatives promoting environmental justice and grants bonus credits for the construction of solar projects, particularly in low-income areas.
With 576 MW of solar capacity installed, Rhode Island can power over 100,000 houses with solar energy. This is equivalent to almost 12,000 dwellings. According to the proposal, the state also possesses 61,033 low-to-middle-class single-family homes with a solar capacity of 351 MW and an energy potential of 413,199 MWh.
In terms of solar energy, the state comes in at number 31. Increasing solar production in places where environmental justice is a priority will assist these households to get cleaner energy at cheaper costs while advancing the state toward its target of 100% renewable energy by 2033.
The successful business must offer solar leases and purchase power agreements with no money down for the consumer and positive cash flow, and qualified households must enjoy a sizable portion of the business’s financial rewards.
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The state will give precedence to bidders who also intend to provide consumers with other products besides solar panels, such as EV chargers or battery storage, which can result in extra utility cost savings for the customers.
According to Utility Dive, the selected solar company will collaborate with the Office of Energy Resources and the Commerce Corporation’s Renewable Energy Fund to become a continuing, dependable state partner.
