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Solect Energy recently announced it will expand its business into the state of Rhode Island while maintaining its presence in Massachusetts.

This announcement comes just after Rhode Island announced the renewal of state renewable energy initiatives, including incentives for solar installations, anticipated to take effect in April of 2016. Rhode Island currently offers businesses, municipalities, public entities and nonprofits two solar incentive programs – the Renewable Energy Growth (REG) program and the Renewable Energy Fund (REF). The REG program, sponsored by National Grid, is a 20-year, feed-in, tariff program designed to reimburse solar producers at a fixed rate over the life of the system. The state-sponsored REF helps qualified solar array owners partially finance their system through grants. Both of the programs have been extended through 2022.

“We are optimistic and excited about the opportunities for Solect to expand our footprint as Rhode Island expands its commitment to solar energy,” Craig Huntley, chief development officer and co-founder of Solect Energy, said in a statement. “The state has made major strides in its solar policies in the past year, and the market is poised for growth. We are eager to play a part in establishing a significant solar presence in the state, while helping businesses, municipalities and nonprofit organizations reduce electricity costs with solar energy.”

Both the renewed and newly proposed policies on the floor of the Rhode Island Statehouse aim to help the state meet its Renewable Energy Standard (RES) goal requiring utilities to obtain 14.5 percent of electricity sold from renewable energy sources by 2019.

“We’re ready to seize these new opportunities in the Ocean State,” Joseph Fraioli, Solect’s business development director, said in a statement.