Nevada Solar Rebates, Incentives and Tax Credits

If you have every been to the burning man festival you will know that Nevada cetainly has it’s share of solar energy. In recent years, Nevada legislators have been working hard to develop renewable energy adoption programs.

Property Tax Exemption
Any value added by a home solar power system will not be included in the assessed value of your home and therefore your property taxes will not increase.
PACE Financing
Property-Assessed Clean Energy (PACE) financing allows propertry owners to finance the purchase of a home solar power system through a special assessment on the property. What that means is that the cost of the solar power system is repaid over 20 years throught slightly higher property taxes. Nevada has authorized certain local governments to establish such programs (Not all local governments in Nevada offer PACE financing; contact your local government to find out if it has established a PACE financing program.) No cities in Nevada have yet created PACE programs as of December 2009.
Net-Metering
With the latest ammendment in 2007, Nevada’s net-metering laws allow home solar power systems up to 1MW to join. A system is not eligible for net-metering if it exceeds 150% of the customer’s peak demand. If you generate more electrity than you consume in a certain month, you will receive a credit on your next bill and as an added bonus, these credits have no expiration.
NV Energy – RenewableGenerations Rebate Program
The RenewableGenerations Rebate Program is run by NV Energy. The program is offered to solar, wind and hydro systems. The SolarGenerations Rebate Program was established in 2003 as a result of AB 431 (“the Solar Energy Systems Demonstration Program”) and began in August 2004. On April 21, 2010, applications opened for the 2010-2011 program year. 13.4 megawatts (MW) of solar capacity were available and within 6 hours, program administrators had received 34.8 MW worth of applications. In addition, the remaining 21.4 MW of applications have effectively filled the 2011-2-12 and 2012-2013 program allocations. As a result, the SolarGenerations program is now closed for this program year and NV Energy is no longer accepting applications. 

Utility Rebate Programs – Take advantage of the energy efficiency rebates on offer and reduce your energy consumption.

Example

Even though the state rebates have gone away, let’s run the numbers and see how a 4 kW system pencils out.

Location Las Vegas
Av. Monthly Electricity Bill $120
System Size 4 kW
% Reduction in Electricity Bill 50
Cost / Watt (installed) $7.00
Cost Breakdown
Total Cost $28,000
Rebates
State Rebate $0
Federal Tax Incentive $8,400
NET COST $19,600
Payback period 17 years
Cash Flow
New Av. Monthly Electric Bill $55
Monthly Loan Payment (30 yrs, 6%, 0 down) $117
Tax Saving $37*
NEW MONTHLY NET COST $135
Cummulative Lifetime Savings
$32,396.00 over 25 years

 

 Tax savings will decrease as the principal is paid down. Please consult your tax preparer.


After installing the system you are going to pay $15 more each month but without a state rebate there is no way to be cash flow positive at this point. If you have a long-term view and want to insulate yourself from future utility rate increases then fill out our free estimate form and we will have qualified Nevada solar installers contact you and provide tailored quotes.

Solar America
Solar America