[Adopted 10-5-2015 by Ord. No. 2015-6]
Pursuant to Section 44-3-21 of the Rhode Island General Laws, as amended, renewable energy systems may be exempt from taxation. The Town Council finds that it would be in the public interest to exempt from taxation renewable energy systems as provided for in § 169-24.
There is hereby exempted from taxation:
A. 
The additional cost or value of any renewable energy device which is being utilized as a primary or auxiliary power system for the purpose of heating or otherwise supplying the energy needs of the property on which it is located not to exceed 250 KW.
B. 
The additional cost or value of any renewable energy system in excess of 250 KW primarily utilized to produce energy for sale beyond the property may be exempted only if a contractual agreement is approved by the Town Council for the amount of property value to be exempt.
An application for a renewable energy system tax exemption must be made to the Town Tax Assessor no later than March 15 of each year on forms to be provided by the Tax Assessor.