Nevada
If you are thinking to go solar, it is an ideal time to switch. According to the Solar Energy Industries Association (SEIA), Nevada is one of the top five states for solar. Nevada solar panel system harness energy to power and support than 600,000 homes.
The solar industry has sustained the challenges of the pandemic and has shown a steady demand. After a sharp decrease in the solar panel system price over the last few decades, now it is more affordable than ever before. If you live in Nevada, you can benefit from the tremendous federal incentives, and solar power is energy security.
On average, Nevada residents pay more than $370 per month on utilities. You can save hot cash when you opt for solar energy as it will eliminate or minimize your electric bills. The solar panel system requires upfront cost, but you can instantly see its benefits right away. You will notice the difference right from the first month, and the saving will continue to increase with time.
Nevada solar panel system boosts your property’s value as the occupants can benefit from the installation as it reduces the energy expense. It will make your property more attractive and in demand. Properties with solar installation sell more quickly and at a better price, approximately 17% more than properties without it.
Nevada, on average, has 294 sunny days annually. Moreover, the temperature ranges from 103.8° to 37.1°. Nevada enjoys a warm and sunny climate, which boosts the solar panel system performance and productivity. Not only that, you can actualize a quick return on investment as life in Nevada is expensive compared to the national average. Therefore, by going solar in Nevada, you can avoid the rising cost of energy and foreign energy dependency.
Nevada Solar Incentives, Rebates, & Tax Credits
Federal Solar Tax Credit | 26% federal solar tax credit is available for home solar systems installed by December 31, 2022 |
NV Energy Solar Generation | $0.15 per Watt |
Other Programs | Variable (Net Metering) |
Federal Investment Tax Credit
The federal Investment Tax Credit has been one of the most impactful and reliable incentives for solar across the U.S. the user can deduct 26% of the total system cost from his/her federal taxes. This good incentive lasts until the end of 2022, and from 2023 the tax credit amount steps will decrease to 22%. The federal ITC is eliminated for residential solar installations after 2023, but commercial solar energy system owners can still deduct 10% of a retail solar system cost from their taxes beyond 2023.
Net metering
The Nevada investor-owned utilities offer customer net metering, which allows the user to credit the excess energy produced in the bill at the retail rate of electricity. The average electricity price in Nevada is 11.83¢/kWh, which is above the national average. Nevada is ranked 18th in the U.S. Therefore, the homeowner can enjoy a lot on their electricity bills.
Conclusion
If you are living in Nevada, it is the right time to get solar. You can harness solar energy if the solar panels are getting enough sunlight. Moreover, it is essential to place the boards in a direction where PVs can receive sunlight continuously. The number of hours the sun shines in the region is also critical. Nevada climate and temperature is ideal for solar enjoys as it enjoys the sun two-thirds of the year, which means most solar panel installations can generate close to their maximum yearly potential if installed correctly. Nevada cost of living is expensive, which implies that the payoff period for purchasing a solar panel system is shorter. You can enjoy the return on investment within several years before the user in other states will pay for the same system. If you want to go solar in Nevada, wait no more. We, with our team of skilled experts, can make the process easy and convenient. Wait no more, and lets us serve you with excellence.