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Nevada Solar Panel Incentives: Rebates, Tax Credits and More

Nevada Solar Panel Incentives: Rebates, Tax Credits and More

Although Nevada residents have 250 days of sunshine per yearInstalling solar panels to take advantage of this can be a bit tricky.

The state offers some rebates and only small incentives from the state government and utilities to homeowners for installing affordable panels on their property. Also, Nevada's financing programs are among the most generous at the state level.

Here's a guide to what's available in Nevada, and how you can use it to make solar energy more viable for you.

Comparing Nevada Solar Panel Incentives

Motivation Description Eligibility Estimated price
Federal solar tax credit This national benefit allows you to credit 30% of the cost of your solar panel system off your tax bill. All Nevada residents About $7,200 for the national average cost of an 8kW solar system
Net metering Nevada residents with grid-connected solar systems can sell power back to their utility at 75% of retail price. New solar customers can earn higher rates than established customers. 75% of the retail electricity rate for energy fed back to the grid varies depending on energy consumption and generation.
Incentive for solar thermal heating NV Energy customers may qualify for up to 50% of a thermal space or water heating system For water heating systems: any NV Energy customer; For space heating: NV Energy natural gas customers 50% of thermal solar heating systems, up to $3,000

Nevada State Solar Tax Credits, Rebates and Loan Programs

The state of Nevada itself does not offer any special tax credit or loan programs for solar panels. That being said, there is at least one program offered by the state's utility companies that can help build a large solar-powered home energy system.

Incentive for solar thermal heating

NV Energy, a Nevada utility company, has a program designed to help residents install solar thermal systems, which collect the sun's energy and use it to heat water or space heaters in your home. does.

resident May qualify for up to 50% of cost. of solar thermal, with a maximum rebate of $3,000.

Local solar panel incentives in Nevada

Residents of Nevada's big cities won't get much extra help from their municipalities.

While there are no additional financial incentives for solar at the local level, a city has made the process a little easier. Reno It has streamlined the authorization process. — often a major hurdle in solar installations — to make it faster and less difficult for customers. The city too There is an incentive program for commercial property owners. To install renewable energy.

Local rebates for solar equipment in Nevada

A solar water heater may be the cheapest option for Nevada residents when it comes to solar appliances.

NV Energy, a utility company, Provides financial incentives. To cover the cost of a solar thermal water heater. The program can cover up to 50% of the equipment cost, with a cap of $3,000.

The same solar thermal incentive can also apply to a solar thermal space heater, a system that collects the sun's heat and distributes it throughout the home via a fan and pump.

Federal solar tax credits and incentives for Nevada residents

Where Nevada may lack solar tax credits, the federal government makes up for it in some ways. The biggest motivation you need to know. Residential Clean Energy Credit.

This federal program covers up to 30% of the cost of new solar installations made between now and 2033 (credits may also apply to water heaters, wind turbines, geothermal heat pumps, fuel cells and battery storage technology).

This federal incentive, while generous, won't come directly into your pocket in the form of cash. Instead, it reduces the amount you pay in federal taxes. For example, if you installed a $15,000 solar array, you would qualify for a $4,500 federal tax credit. That means your tax bill will be $4,500 lower next year.

Nevada's Net Metering Rules for Solar Energy

Net metering is the most important financial incentive for solar power in Nevada.

If you are not familiar with the concept, Net metering allows customers to pay. They do not use the excess solar energy by sending it back to the electric utility.

Net metering in Nevada applies to all rooftop solar arrays under 25 kW. Pay rates are divided into tiers, though all but one of them are closed to new customers.

here is Error rates You will be paid for the excess electricity generated by your solar panels.

  • Tier 1: 95% of retail rate. This applies to solar customers who signed up after June, 2017, but before the tier reached its maximum customer base in 2018. Customers in this tier can retain the rate for up to 20 years.
  • Tier 2: 88% of retail rate. This next round of sign-ups continued from 2018 to 2019. Again, customers in this tier can keep the rate for up to 20 years.
  • Tier 3: 81% of retail rate. After opening in 2019, this level of net metering hit capacity and was closed to new customers in 2020. Again, customers who make it into this tier can keep the rate for up to 20 years.
  • Tier 4: 75% of retail rate. This is the tier currently open to new solar customers. An unlimited number of residents can sign up (unless the net metering rules are changed by legislation). Again, customers who fall into this tier can keep the rate for up to 20 years.

Community Solar Projects in Nevada

Not everyone has a home they can install solar panels on. This is where community solar comes in.

Community Solar Allows users to subscribe to a piece of commercial solar farm. This means you pay a lower rate for electricity, while at the same time supporting renewable energy projects.

In Nevada, utility NV Energy has been working on community solar projects since 2019, and By 2022, 2,000 users had signed up. — mostly low-income households.

The program is likely to increase: State law requires NV energy. For construction of 6 to 20 community solar facilities.

You can learn more about the Expanded Solar Access Program, as NV Energy calls it, and Sign up on the utility's website..

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