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.
Utility Rebate Programs - Take advantage of the energy efficiency rebates on offer and reduce your energy consumption.
- NV Energy – Northern Nevada Residential Energy Efficiency Rebate Program
- NV Energy – Southern Nevada Residential Energy Efficiency Rebate Program
- NV Energy – SureBet Business Energy Efficiency Rebate Program
- Southwest Gas Corporation – Residential Energy Efficient Products Rebate Program
- Southwest Gas Corporation – The Smarter Greener Better Solar Water Heating Program for Nevada
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.