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Is Solar Energy Worth It In Nevada?
Written by Alan Whitaker
It certainly is! Las Vegas has an average of nearly 300 sunny days per year, which is well over the national average of 200 days per year. Although the weather obviously varies a bit throughout the state, Nevada as a whole has some of the strongest and most reliable sunshine in the country, which means residents would be quite wise to invest in solar energy.
It certainly is! Las Vegas has an average of nearly 300 sunny days per year, which is well over the national average of 200 days per year. Although the weather obviously varies a bit throughout the state, Nevada as a whole has some of the strongest and most reliable sunshine in the country, which means residents would be quite wise to invest in solar energy. Additionally, when you account for solar incentives like net metering and tax breaks, you can end up saving a huge amount of money over the lifespan of your solar panels.

We at Sunny Renewable Energy are passionate about innovative renewable energy choices. Our team is made up of highly experienced professional technicians and craftsmen, and we pride ourselves on providing accurate and useful information about solar energy to help our clients make informed decisions that they can feel good about. 

Now, let’s talk numbers.

What’s The Cost Of Solar Energy In Nevada?

Currently, the cost to install a solar energy system in Nevada is about $2.86 per watt on average. Residential solar energy systems vary in size and therefore wattage based on budget, how much energy is used in the home, and how much un-shaded roof space is available, but in general, a 5 kW (5,000 watt) solar energy system is considered standard and sufficient for the average Nevada home. At $2.86 per watt, that brings the cost of a typical 5 kW system to about $14,300.

Before you succumb to sticker shock, it’s important to look at the long-term financial benefits of adding a solar energy system to your home. Continuing with our example of a 5 kW solar energy system and based on the average energy costs in Nevada, the payback period for the system will be just under nine years.

However, you can expect to save almost $34,000 over 20 years after installing your solar energy system! This figure takes into account the total cost of installing a solar energy system (including incentives) and the money that’s saved as a result, compared to the cost of the same amount of energy at utility company costs, accounting for inflation.

Additionally, as solar energy gains mainstream traction as a viable green energy source, more financing options are becoming available, which allow you to spread out the initial investment into monthly payments rather than one intimidating lump sum.

Adding solar energy can also increase your home equity significantly. Statistics show that on average, solar-equipped homes sell for about $15,000 more than comparable non-solar-equipped homes across the nation. You can rest assured that should you need to sell your home before reaping the 20-year savings we mentioned above, you will still benefit from the solar energy system through a higher home equity.

So, while the upfront costs of installing solar can seem daunting and out of reach at first glance, some simple calculations reveal that installing a solar energy system in your home will be extremely financially beneficial in the long run. Your return will far exceed your investment when it comes to solar energy.

2020 Solar Incentives for Nevada Homeowners

Now that we’ve established how much you’ll save over the lifespan of your solar energy system, let’s look at ways to offset the initial investment.

Federal Investment Tax Credit (ITC)

The federal government currently offers a tax credit that allows owners of new residential solar energy systems to deduct 26% of the total installation cost from their federal tax liability amount. Conveniently, if that amount exceeds your federal tax liability for the year, you can roll over the unused deduction credit to the next year.

However, the ITC won’t be around forever. The 26% deduction amount only applies for the remainder of 2020, and in 2021 the deduction amount will be reduced to 22% of the total cost of your solar panel installation project. From 2022 on, there will be no federal tax break available for residential solar customers, unless a new federal tax credit for solar is implemented.

NV Energy Rebates

If you own a home in NV Energy’s service area, you are eligible to receive a rebate equal to $0.15 per watt when you install a new solar energy system. Using our 5 kW example, that’s $750 of instant savings!

Net Metering

Net metering allows you to “sell” extra energy that your solar panels generate back to the grid. The specifics vary based on your utility company:

NV Energy’s net metering policy is that they will provide credits to residential customers on a sliding scale, based on how many megawatts of solar are installed in their service area. The credit rate started at 95% of the retail rate for electricity, although it drops by 7% for every 80 megawatts of additional solar panels, with a minimum credit limit of 75% of the retail rate. At present, the rate is 81% of the retail cost.

Valley Electric Association has a simpler system: if you live in their service area, you can be credited for your excess solar energy at the same rate as the retail cost. With this policy, you can easily bring your energy costs for the entire year to a net of $0.

If Your Roof Qualified For Solar?

At Sunny Renewable Energy, we offer you a seamless journey from crafting your custom solar plans to managing the permits and paperwork on your behalf to safely installing the solar energy system of your dreams. We offer a 25-year warranty on all of our solar panels because we are confident in our products and services, and we want you to have peace of mind for years to come.

Take our 30 second survey to find out if your roof is qualified 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
Keep Learning...
  • Will Solar Panels Damage My Roof?
  • 2020 Residential Solar Incentives For Nevada
  • Solar Permitting and Installation Process for Nevada
  • Is Solar Energy Worth It In Nevada?
  • Will Solar Panels Increase The Value Of My Nevada Home?
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