The RI PBI, Rhode Islands' Performance-Based Incentive, can be calculated on Sighten!
Here's a breakdown of how a job can become eligible for this incentive, it's terms, system size requirements, and rates.
Eligibility Requirements
To be eligible for the RI PBI, a job must have:
1. A site address located in Rhode Island.
2. The National Grid of the Rhode Island as the utility selected in the usage phase.
3. Either "Residential - Gross Metering - A-16-GRM" or the "Residential - Low Income, Gross Metered - A-60-GRM" must be selected as the rate schedule.
Once a job qualifies for all of the eligibility requirements as stated above, the RI PBI will automatically be applied to the Quote. You may verify this by viewing the Quote Summary after a quote is generated. The Quote Summary of any eligible job will show the incentive's name; RI PBI, as well as the corresponding incentive amount.
Incentive rate and calculation
This is how the rates and terms are assigned in Sighten, as determined by system size:
Projects with a system size <11 kW are allocated with $0.2965/kwh, applicable for a 15-year term
Projects with a system size >11kW are allocated with $0.2345/kwh, applicable for a 20-year term
Note : Net metering is only applied after the validity period of the incentive. Only after 15 years for systems with system sizes <11kW and 20 years for systems with system sizes >11kW will net metering be applied.
Still have questions? Contact support@sighten.io or start a chat with us when you are logged into the platform.