Rhode Island has long led on efficiency. A proposal to slash funding may cost the state $90 million in benefits — while saving each household less than $2 a month.
Funding for Rhode Island’s energy-efficiency programs could be cut by more than $42 million next year in an effort to rein in residents’ soaring power bills. That rollback would deprive the state of more than $90 million in benefits and potentially eliminate hundreds of jobs while creating only modest up-front savings, a new analysis finds.
Rhode Island Energy, the utility that administers the state’s energy-efficiency offerings, has proposed to slash spending on that front by 18% compared to last year and more than 30% compared to the budget originally projected in the nonbinding three-year plan introduced in 2023. If approved, the cuts will save the average household $1.87 per month, according to Rhode Island Energy.
The result of these changes, according to climate action nonprofit Acadia Center, would be more expensive electricity and more exposure to volatile natural gas prices in the long run…