Senate Finance Committee Reconsiders Renewable Energy Tax Credit

May 15, 2013

The state may once again help out residents looking to add wind or solar power to their homes.  The senate finance committee will look at a plan Wednesday to restore a renewable energy tax credit.

For years, homeowners who wanted to install pollution-free power sources to their homes… devices like geothermic, solar, or wind-powered energy systems… could help pay for it with the state’s renewable energy tax credit. It covered 25-percent of the up-front cost. But the state ended the tax credit program in 2010, when it rejiggered the tax system. But Senator Josh Miller of Cranston says the tax credit worked well for its previous five-year run.

“And now that there is more availability of renewable energy systems… that in order to encourage it the tax credit should be restored.”

Miller says the renewable energy tax credit program could help boost the number of solar panels installed on area homes… among other projects. He says it is time for the state to reward efforts to create green energy. A similar bill is being taken up in the house.

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