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2020 Residential Solar Incentives For Nevada

Written by Alan Whitaker

If the incentive options seem overwhelming, don’t worry. We at Sunny Renewable Energy are here to help. We offer a seamless journey from initial plans to the fruition of your solar energy dreams, and we’ll ensure that you can take advantage of all the incentives that are available to you.

Solar incentives are offers from local, state, and federal governments as well as from local utility companies that help lower the upfront cost of installing a residential solar energy system and allow homeowners to earn money from the excess energy their system generates. These offers are often in the form of rebates, tax breaks, grants, and credits. Available incentives vary from year to year, so in this article, we’ll focus on which incentives are available in Nevada for 2020.

Federal Investment Tax Credit (ITC)

In 2005, the federal ITC was established as part of the Energy Policy Act. It was originally set to expire in 2007, but a series of extensions have pushed it back to 2021. Up until 2019, the ITC allowed you to deduct 30% of the total cost of installing your solar energy system from your federal tax liability amount. For 2020, the deductible amount dropped to 26%, which can still equate to a significant amount of savings for you. However, the amount will drop again in 2021 to 22% of the total cost, and in 2022 and beyond there will be no ITC for residential solar energy systems.

There is no cap on the amount that you can deduct, so no matter how elaborate your solar energy system, you will get to deduct 26% of the total cost as long as the project is completed in 2020. Fortunately, even if the deduction amount exceeds your total federal tax liability for the year, you can roll over the unused credit amount to the following year to ensure that you reap the full benefits of the program.

In order to qualify, you simply must be the owner (not the lessee) of a newly installed solar energy system. If you sign a lease or a PPA with a solar installer company, you will not be eligible for the tax credit.

NV Energy Solar Rebate

If your home is in NV Energy’s service area, you are eligible for a rebate when you install a new solar energy system. NV Energy will pay $0.15 per watt as an upfront rebate, although the rate will go down as more and more people install solar energy systems. However, at the current rate and for an average 5 kW system, that’s an instant savings of $750!

Nevada Net Metering

Net metering is a process that allows you to sell any excess energy that your solar energy system generates back to the utility company who manages your local power grid. Naturally, your system must be tied into the grid for this benefit to apply. Net metering is an excellent benefit for solar-equipped homeowners because if you are producing excess energy, not only are you not paying anything for your energy at that time, but you are also racking up credit on your account which can be applied to your energy bill at times when energy production is lower and/or consumption is higher and your solar energy system can’t meet all of your energy needs.

The exact net metering benefits vary based on which energy company’s service area encompasses your home:

NV Energy

NV Energy will credit your account for any excess energy that your system produces on a sliding scale based on how many megawatts of solar have been installed in their service area as a whole. The credit rate started at 95% of the retail rate for electricity, and for every 80 megawatts of solar that is added in the area, the rate drops by 7% with a guaranteed minimum rate of 75%. Currently, the credit rate is 81% of the retail cost of electricity.

Valley Electric Association

Valley Electric Association has a simpler policy. If you live within their service area, you will be credited at 100% of the retail rate, which is a great deal for you!

Solar Access Rights

Nevada also has some of the best solar access laws in the country, which protect your right to install solar energy systems and generate electricity. No contract or other legal document, including homeowner’s association guidelines, can prevent you from installing a solar energy system at your home.

Additionally, you can enter into a solar easement agreement with your neighbors, which will ensure that nothing can be constructed or grown (trees or hedges, for instance) in such a way that it will block the sunlight from reaching your panels.

Some states do not have any such protections for your rights, making Nevada one of the more ideal states in which to install solar energy systems.

Are You Ready To Go Solar?

At Sunny Renewable Energy, we are experts at navigating the complex world of solar permits, incentives, and legal rights. We make it our business to be extremely familiar with all available solar incentives so that we can advise you on how to maximize your savings.

So, are you ready to go solar? Submit a 30 second solar roof survey today to find out if your roof qualifies for solar!

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Author:
Alan Whitaker

Owner & CEO, Sunny Renewable Energy

"I have never known of a better company and better people. The customer service was great. Alan Whitaker provided me with amazing customer service and I was helped every step of the way. You can't get better than SUNNY RENEWABLE ENERGY!! Thank you Alan Whitaker and it was a pleasure meeting you and helping me get my solar up and going!!! You rock!"

Brittany Roylance

"Alan the owner of this company is very professional and actually cares about the customer. He provides quality product for a great price. I would strongly recommend him to anyone. He has been in the solar business for a long time. He knows what he is doing and he does it well. Thanks for all did do Alan. "

Beau Carter

"I was so happy with the service that Alan with Sunny Renewable provided me with my residential solar needs. He is a very professional and had answers and excellent resources to all my questions through the whole process. I highly recommend Alan and Sunny Renewable Energy for all your solar needs. Sunny Renewable gets a 5 star rating from me. "

Todd Perkins

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