PROVIDENCE, RI – In an effort to help Rhode Islanders save money and the environment, U.S. Senator Jack Reed today teamed up with Governor Dan McKee and the Rhode Island Office of Energy Resources (OER) to launch the first state-specific calculator from Rewiring America. The new calculator helps homeowners and renters find out how much they can save by taking advantage of new electrification incentives.  

The calculator is a creation of Rewiring America, the leading electrification nonprofit, focused on electrifying homes, businesses, and communities. The new tool will help Rhode Islanders quickly estimate how much they can save on energy efficient upgrades by leveraging green energy incentives and tax credits created by the historic Inflation Reduction Act (P.L. 117-169) in addition to other incentives on the state and local level.

To use the calculator, Rhode Islanders will only need to input a few details about their households to get personalized estimates about how much they can save on efficient electric appliances and energy-saving technologies. Rewiring America estimates that American households can receive $10,600 on average in federal incentives to help with electrification which in turn can save households an average of $1,800 per year on energy bills.  

Senator Reed joined Governor McKee, Acting State Energy Commissioner Chris Kearns, and Rewiring America CEO and co-founder Ari Matusiak at United Way of Rhode Island to officially launch and demonstrate the new calculator.

“We are on a mission to help Rhode Islanders save money on their energy bills while fighting climate change. So far more than $142 million has been announced for Rhode Island’s clean energy initiatives, and that doesn’t even include the thousands of dollars in tax credits that are available for so many Rhode Islanders from the transformative climate law Democrats passed.  Today, we’re adding a new tool to help Rhode Islanders bring down costs and save money. This specialized calculator from Rewiring America is made just for the Ocean State and will connect homeowners and renters with a host of financial incentives and rebates from the Inflation Reduction Act that make switching to energy-efficient, clean energy appliances more affordable,” said Senator Reed. “This tool allows Rhode Islanders to quickly assess how much money they can save by going electric. I want to ensure Rhode Islanders are prepared to get the most bang for their buck as we move toward a cleaner, more sustainable and more affordable energy future.”

“This innovative calculator allows Rhode Islanders the ability to fully access all of the electrification incentive programs that may be available to them,” said Governor Dan McKee. “Rhode Islanders can take advantage of state and federal energy programs that they may not have known they were eligible for before using this energy opportunities calculator. This is a great tool for educating and showcasing the potential fiscal state and federal energy incentives available to constituents.”

“I encourage all households to use this calculator and maximize the federal and state energy incentives, especially for household energy efficiency improvements,” said Acting State Energy Commissioner Chris Kearns. “Rhode Islanders will be able to go onto the calculator, enter their information, and they will be provided a list of incentives available to them from the federal level, state level, and their utility, all in one place.”

“The Inflation Reduction Act is a monumental legislative achievement, but just like with the Affordable Care Act, it's just the start. The real work is bringing the legislation to life by actually connecting people with all of the benefits it, and the Rhode Island state incentives, have to offer,” said Ari Matusiak, CEO of Rewiring America. “We share the enthusiasm Senator Reed, Governor McKee and Commissioner Kearn talked about today in ensuring Rhode Islanders get their fair share. With this calculator, Rhode Islanders are now just a few clicks away from the next steps on their electrification journey.”

The Inflation Reduction Act is the largest investment in climate action in American history. The law is helping American consumers save money while giving a boost to domestic manufacturing and energy independence. The legislation includes green energy incentives and tax credits that can help Rhode Islanders save thousands of dollars on heating/cooling system upgrades, energy-efficient appliances, and electric vehicles.

Under the Inflation Reduction Act, Congress provided $9 billion to states nationwide for up-front discounts on electrification and energy conservation upgrades.  States are tasked with administering these federal funds.  The Ocean State is getting $63.8 million to establish rebate programs to support Rhode Islanders electrifying their homes and reducing total energy consumption. Rhode Island OER is the state agency responsible for overseeing and distributing the clean energy funds from the Inflation Reduction Act.

Earlier this year, Senator Reed launched a special section of his website (Reed.Senate.gov/IRA) that provides helpful links to resources for homeowners, business owners, and local manufacturers to help break down savings and incentives made available by this law.