As all Nevadans know, there’s more to the Silver State than just the Las Vegas Strip: it’s also home to some of the strongest sunshine in the country. It’s no wonder that the Solar Energy Industries Association ranked Nevada as number 5 in its Top 10 Solar States. Take full advantage of that sunshine with Nevada solar incentives and rebates.
What are the best Nevada solar tax credits and rebates?
Homeowners in the Silver State can cut their solar installation costs thanks to these Nevada solar incentives and rebates:
NV Energy renewable generations rebate program
If you’re a homeowner in NV Energy’s service territory, you are eligible for a rebate from the utility when you install a solar panel system on your property. NV Energy will pay $0.15/watt up front to its ratepayers when they go solar – but as more solar is installed in the state, the value of the rebate will step down, so don’t wait too long!
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.
Other top solar power incentives in Nevada
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 for solar
All of the Nevada solar incentives are great for reducing your solar costs, but you can’t forget about the federal Investment Tax Credit (ITC). With the ITC, you can claim 26 percent of your solar equipment and installation costs on your federal taxes, which means even higher solar savings.