Nevada residents have 250 days of sunshine every year, making it an ideal location for solar panel installations. However, the state offers limited rebates for homeowners looking to install solar panels on their property, with only small incentives from the state government and utilities. The most generous financial programs in Nevada are at the state level, making it important for residents to explore all available options to make solar energy more feasible. Some of the incentives available to Nevada residents include the federal solar tax credit, which allows a credit of 30% of the cost of a solar panel system from the tax bill, as well as net metering, which allows residents to sell excess electricity back to the grid at 75% of the retail rate.
While the state of Nevada does not offer specific tax credits or loan programs for solar panels, there are programs offered by utility companies that can help residents build larger home energy systems connected to solar. NV Energy, a utility company in Nevada, offers a solar thermal heating incentive program that can provide residents with up to 50% off the cost of a solar thermal system, with a maximum rebate of $3,000. Additionally, the city of Reno has streamlined its permitting process for solar installations, making it quicker and easier for customers to install solar panels on their property.
NV Energy also offers a financial incentive for solar appliances, specifically solar water heaters, which can cover up to 50% of the cost of the appliance, with a cap of $3,000. This incentive can also apply to solar thermal space heaters, which collect the sun’s warmth and distribute it through the home using fans and pumps. In terms of federal incentives, residents in Nevada can take advantage of the residential clean energy credit, which covers up to 30% of the cost of a new solar installation, as well as other clean energy technologies like water heaters, wind turbines, and geothermal heat pumps.
Net metering is a significant financial incentive for solar in Nevada, allowing customers to get paid for the extra solar energy they produce by sending it back to the electric utility. Net metering rates in Nevada are divided into tiers, with different rates based on when customers signed up for the program. Tier 1, for customers who signed up after June 2017, offers 95% of the retail rate, while Tier 4, currently open to new customers, offers 75% of the retail rate. Additionally, for residents who do not own a home suitable for solar panel installations, community solar projects provide an alternative way to support renewable energy projects. NV Energy has been working on community solar projects since 2019, with plans to build between six and 20 facilities to allow customers to subscribe to a portion of a commercial solar farm and support renewable energy.
