Rhode Island Commerce Corporation - Renewable Energy Fund (REF)
Grants to Rhode Island nonprofit organizations, businesses, institutions, municipalities, and state facilities properties to support commercial scale renewable energy projects to generate electricity for onsite consumption. Applicants are requested to notify the funding source of the intention to apply prior to submitting an application. Funding is intended for projects that have the potential to produce electricity in a cleaner, more sustainable manner, while stimulating job growth in the green technology and energy sectors.
All projects must have the ability to generate electricity or aid in electricity usage. Commerce RI will award grants based on the rated DC capacity of a renewable energy project. Grants for renewable energy could cover up to 30% of renewable energy installation costs. A grant can bring payback periods down to five to eight years, depending on the project.
Incentive levels for solar PV or other eligible renewable energy systems:
-$ 0.75/W For the first 0-50kW
-$ 0.40/W For the 2nd 50kW (up to 100kW)
-$0.30/W For the 3rd 50kW (up to 150 kW)
-$0.20/W For the 4th 50kW (151 KW and up)
Projects with a rated DC nameplate capacity of over 10kW will be deemed eligible. Eligible technologies include those that are consistent with RIGL § 39-26-5 which produce electricity. These include: solar, wind, ocean, small hydroelectricity, biomass, and fuel cells.
The project should help to promote the expansion and development of renewable energy in Rhode Island, and should include environmental or economic benefits to the state.
GrantWatch ID#: 159535
REF Amount Requested: Not to exceed $80,000.
Before starting your grant application, please review the funding source's website listed below for updates/changes/addendums/conferences/LOIs.
Please submit your applications (all sections) via email to REF@commerceri.com
Optional: Applications can be submitted in person or mailed USPS certified mail to:
Rhode Island Commerce Corporation
Attn: Annie Ratanasim
315 Iron Horse Way, Suite 101
Providence, RI 02908
USA: Rhode Island