Should I get Solar in Nevada?
The Las Vegas Strip is home to many sights such as neon signs, dancing fountains, or solar arrays on rooftops. Nevada continues to see a surge in interest in solar energy, aided by the best solar incentives and eco-conscious living. Although solar panel installation is expensive for homes and businesses, you will reap the benefits for many years.
In Nevada: Why you should go solar
There's no better time than now to install solar panels in the Silver State. As more people leave the grid, traditional utilities are losing ground to solar power. Nevada has set a goal to produce 50% of its electricity using renewable sources by 2030. It is a major decision to choose solar power and get ahead of the state movement. We're shining a spotlight on some reasons why many Nevadans are making the switch.
Nevada does not offer a rebate for the installation of solar panels, but some manufacturers, such as LG, offer solar rebates. NV Energy, a power company serving most of Nevada offers two different battery storage incentive rate rates, each representing up to 20% of total installation costs.
1) Lower your Electric Bill
Savings are one of the greatest benefits of going solar. Nevada residents spend an average of $111 per month on electricity. This amounts to $33,000 over 10 years. After your solar panels have been installed, you'll notice a decrease in your monthly electric bill. These savings will continue to grow. Solar energy systems can even reduce your electricity bills.
2) No Solar Tax
California and other states have proposed a large monthly solar tax fee. However, this is not the case in Nevada. Customers of Nevada public utilities can save money on taxes because the money, credits, or subsidies they receive from solar aren't taxable. Residential and commercial property owners may be eligible for property tax abatements in order to offset investments in solar panels and renewable sources.
3) Monetary and Net Metering
Net metering is when you produce more electricity than you use, and the power company will purchase it back from you. Other homes can then use clean solar energy. After June 2020, Nevada became Tier 4 in its Net Metering system. This means that homeowners and businesses who install solar arrays can now expect to receive monetary credits equal to 75% of the retail price of every unit of electricity sold to NV Energy over a 20-year period. This rate is higher than in other states.
4) Renewable, Clean Energy
However, there are many solar benefits that go beyond financial. Converting to clean energy can help reduce your environmental impact.
Solar panels can reduce dependency on utilities and other fossil fuels. By installing solar panels, you can reduce your carbon footprint and contribute less to the environment. You will also be more energy-independent and have lower energy costs.
5) Increase in Home Resale Value
Solar panels can increase the value of a home by as much as 80%, which is often surprising to homeowners. Zillow estimates that an average American home will increase in value by 4.1%.4 In Nevada, the average home is valued at $445,515.5, this value jump amounts to about $18,266.
In higher-priced locations, such as Las Vegas or Reno, this value increase may be even greater. This benefit is not available to all solar customers. It's only possible for systems purchased with cash or a loan. A solar lease or power purchase arrangement (PPA) is not a good option because it doesn't give you a boost in your home value.
6) One of the Biggest Solar Economies
According to Stacker.com's report, Nevada has the largest solar economy in America. This website used data from SEIA's national ranking to determine Nevada's overall solar production, job creation, and environmental protection. Over a decade ago, Nevada was the first state to take this green route. Silver State North Solar Project was the first U.S.-approved large-scale solar power project.
7) There are many sunny days
Nevada is known for its sun-filled lifestyle. Nevada residents have an average of 294 sunshine days per year. This area has a sunny climate and large deserts, which means that it produces more electricity per year than any other part of the country.
8) Solar Access Law
Nevada's solar access law prohibits any restrictions on solar power, protecting your rights to install solar panels and generate electricity. Nevada law prohibits you from installing solar panels by any contract, or another legal document like homeowner's association bylaws. These laws prohibit communities, real estate, and zoning from stopping solar installation. In Nevada, you can also sign a solar easement together with your neighbors to ensure that you have access to sunlight in order to allow solar panels to create electricity.