Renewable Energy Fund Rhode Island Commerce’s Renewable Energy Fund provides grants for renewable energy 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. The program can cover up to 30% of renewable energy installation costs. Small Scale Solar Commercial Scale Community Renewables Combined with the Federal Investment Tax Credit (ITC) of 30%, a grant from the Renewable Energy Fund can bring payback periods down to 5 to 8 years, depending on the project. Visit RI Commerce’s Website