As one of the sunniest states in the U.S., Nevada has seen some of the most impressive growth in solar installations in the country. When life gives you a beautiful desert, make solar energy. It’s easy with Nevada solar incentives and rewable energy programs described below. Contact us and your personal Energy Agent will guide you through the process.
NV Energy is offering the Renewable Generations solar rebate program, or SolarGenerations, to homeowners that go solar across the state. Through this program, home solar systems that generate up to 25 kilowatts of electricity could earn NV Energy South customers $0.20 per watt back on their system.
Nevada net metering
Net metering gives credits to solar homeowners for the electricity that their solar panels generate. The net metering rules are different depending on your utility:
NV Energy: NV Energy customers will receive credits worth 95% of the retail rate of electricity for their excess solar production. As more property owners install solar, credits available for new customers will decline in value. For every 80 megawatts (MW) of solar installed, credit values for new customers will decline by 7%, with a minimum credit value of 75% of the retail rate.
Valley Electric Association: If you live in Valley Electric Association’s service territory, you can get credited for your solar electricity at the same rate you would pay the utility. This means that, if your solar energy system is the right size, you can cover all of your electricity use for the entire year.
Solar Access Rights Nevada has solar access laws that protect your right to install and generate electricity with solar panels. In Nevada, no contract or other legal document (like homeowner’s association bylaws) can prohibit homeowners from installing solar. You can also enter into a solar easement with your neighbors to ensure that you have continued access to sunshine – necessary for your solar panels to generate electricity!
Federal Tax Credit
The federal solar income tax credit is a, 30% of the total solar energy installation cost, tax credit. This federal solar income tax credit is available to both families and businesses. There are two important key understandings related to the federal solar income tax credit. The first is that money owed or paid to the IRS, can now be applied toward paying for your family or busineess, 25 -30 year, electric utility costs. The second is that a family or business must have the federal income tax liability, in which to apply the federal income tax credit. Tax liability can be an issue for those that are retired or some business situations. Even if you don’t have enough tax liability to claim the entire credit in one year, you can “roll over” the remaining credits into future years for as long as the tax credit is in effect. However, remember that if you sign a lease or PPA with a solar installer, you are not the owner of the system, and thus you cannot receive the tax credit.
2016 – 2019: The tax credit remains at 30 percent of the total solar installation cost of the solar energy system.
2020: The federal income tax credit will be reduced to 26 percent of the total solar installation cost of the solar energy system.
2021: The federal income tax credit will be reduced to 22 percent of the total solar installation cost of the solar energy system.
2022+: The federal income tax credit will be reduced to 0 percent of the total solar installation cost of the solar energy system for residential installations. The federal income tax credit will be reduced to 10 percent of the total solar installation cost of the solar energy system for any commercial installation. Owners of a new commercial solar energy systems can deduct 10 percent.