Since green is the new black, lately I have been helping to promote some of our more Earth Friendly partners in Rhode Island housing. Considering that the United States has only 6% of the world's population but consumes 25% of the world's resources, we really have to start doing everything we can to utilize renewable energy wherever we are able to. This week
Rich and Cherie talked with Bob Chew, founder of
SolarWrights, Bob is a nationally recognized expert in solar energy and green building and has been a tireless promoter of renewable energy. His company has been responsible for over 80% of all photovoltaic systems that have been funded by the
Rhode Island Renewable Energy Fund. If you are thinking about building a new home, you might want to give Bob a call to spend a few hours with your architect or designer to see if solar energy systems can be integrated into your home. With over 29 years of experience in the design and building of solar powered systems, Bob and his team can see you through the process. After the initial set up cost, the savings start to add up in addition to reduced utility bills, there are tax credits for solar hot water systems, solar space heating systems and photovoltaic systems available to Rhode Island homeowners.
Here are some of the incentives available in Rhode Island: 1: The Rhode Island Residential Tax Credit for solar hot water systems is $1,700.00 2: The Federal Tax Credit for solar hot water systems is 30% with a maximum cap of $2,000 for residential projects and no cap for commercial projects. 3: The Rhode Island Residential Tax Credit for solar space heating systems is $3,750.00 4: The Federal Tax Credit for solar space heating systems is 30% with a maximum cap of $2,000 for residential projects and no cap for commercial projects. 5: The Rhode Island Residential Tax Credit for photovoltaic systems is $3,750.00 6: The Federal Tax Credit for photovoltaic systems is 30% with a maximum cap of $2,000 for residential projects and no cap for commercial projects. 7: There is currently a $3,750.00 Rhode Island Residential Tax Credit for wind turbines.
This Week's Real Estate Insight: If you are looking to save money on your energy bills, alternative energy sources are a great way to go, but the cheapest energy is the energy you don't use, we all must learn how to be more conservative in consumption.
