evada is one of the fastest growing states in electricity consumption. In 2008, it spent more than $11 billion on coal, natural gas, petroleum products, and other fuel. Through recent programs such as the Nevada Rooftop Solar Initiative, Nevada has strengthened its solar incentives to both fuel and reduce its electricity consumption. The state currently has one of the most aggressive Renewable Portfolio Standards (RPS) in the country, which mandates that 25% of the state's energy comes from renewables by 2025. Additionally, Nevada maintains an excellent net metering program, which it has recently strengthened. Read on to find out if a solar energy system is right for you.
Grid Connected Solar Power Systems in Nevada (2012)
- Residential Solar Power Systems: 2.1 Megawatt
- Non-Residential Solar Power Systems: 8.5 Megawatt
- Utility: 215 Megawatt
- Total: 225.6 Megawatt
- Cumulative: 349.7 Megawatt
Nevada is one of the leading states solar energy and has a particularly high number of utility solar installations. With 476 MW of solar energy currently installed, Nevada ranks 5th in the country in installed solar capacity. The state has enough solar energy installed to power 72,300 homes.
Cost of Electricity in Nevada
- Electricity Price: $0.12 per kWh
- Average Electricity Bill: $140.00
- Average Bill after Solar: $43
Homeowners who install solar energy systems in Nevada can trim their monthly electricity bills by a substantial amount. Monthly payments for leased solar systems are approximately $39, leaving homeowners with $58 in savings. On average, it takes solar energy systems in the state just 6.7 years to pay for themselves.
Average solar radiation in Nevada is between 4 and 5 kilowatt per day throughout most of the state and between 5 and 6 Kilowatt per day in the southern corner. These amounts represent an area of 1 square meter (10.76 square foot). On average, Las Vegas receives 292 annual sunny or partly sunny days, while Reno enjoys 251.
State Solar Incentives and Rebate Programs
- State Solar Tax Credit: None
- State Solar Rebate: None
- Property Tax Exemption: 100%
- Sales Tax Exemption: None
One of Nevada's most effective solar incentives is its net metering program. Homeowners who generate excess power will receive a credit on their next monthly electricity bill. While many states remove this credit after a year, Nevada's net metering law does not limit the amount of time that homeowners can carry a credit. Recent research by the Public Utilities Commission of Nevada (PUCN) revealed that the grid benefits from net metered solar energy systems installed from 2014 to 2016 will outweigh costs by $174 million. Nevada expects this program to enjoy significant growth in the next few years.
In addition to these solar incentives, the Federal Tax Credit also applies.
Solar Installers in Nevada
Nevada requires that solar installers are licensed by the Nevada State Contractors Board. To research the license of your solar installer in Nevada, go to the state contractor board's website.
Summary: Very Good Conditions for Solar Power Systems
Nevada's abundant sunshine has helped it remain ahead of the game when it comes to solar power. The state's excellent RPS and net metering law also create big savings for homeowners. To calculate your costs and savings, please use our Solar Calculator, or contact solar installers in your area.
Solar Energy Fact Sheet: Nevada, © SolarContact.com