We will discuss some new results for homogeneous Ricci solitons. Of particular interest is the case of solvmanifolds, i.e., when there exists a transitive solvable group of isometries. We will show that the only examples of Ricci soliton metrics on solvmanifolds (up to isometry) occur on solvable Lie groups, are necessarily simply-connected (when non-flat), and are so-called algebraic solitons.