Las Vegas is known for its endless entertainment and dazzling light. It’s also part of the Southwest’s “Sunbelt,” which gives it immense potential for solar energy. Keep reading to learn why Las Vegas is ideal for solar energy.
Financial Benefit
One of the most significant benefits of going solar is cost saving. It offers incredible financial returns that lower your utility bills. However, it’s crucial to note that several factors determine how much you will get. This includes:
- Local electrical rates
- Whether the panels are leased or purchased
- The size of the solar energy system
- Your household’s electrical consumption
Solar Incentives and Tax Credits
Another reason that Las Vegas solar is ideal is the numerous federal and state incentives, rebates and tax credits you can enjoy. One of the most prominent incentives you can take advantage of is the federal clean energy tax. This credit provides up to 30% of the total solar installation cost in the following tax season for those that own their system.
Local Regulations and Permitting Requirements
The high response to solar installation in Las Vegas has led to various community solar initiatives that have become popular across Nevada. One of these programs is NV Energy’s Shared Solar Program, which offers local businesses, schools and households access to solar power without needing to install solar power on the premises. This program encourages group investment in renewable energy.
Friendly Utility Company Programs
Various utility companies in Las Vegas have different solar energy programs you can enjoy by installing solar panels. Here’s a breakdown of the solar incentives offered by the two main utility companies serving Las Vegas and its surroundings.
NV Energy
Although NV Energy doesn’t purchase excess solar electricity at its full electricity rate, homeowners get an “excess energy credit” on future electric bills worth 75% of the electricity retail rate. For instance, if their electricity rate is at $0.10 per kWh, NV Energy gives you a credit of $0.075 per kWh for the solar energy sent to the grid.
Southwest Gas Corporation
Southwest Gas Corporation applies a unique rebate program for Nevada solar panel owners who own solar water heaters. These rebates are offered according to the anticipated thermal energy or terms that your solar heating system is anticipated to generate. This program utilizes a tired structure, indicating that you will receive your rebate amount according to the steps achieved within the program.
Nevada’s Renewable Energy Targets
Nevada established a Renewable Portfolio Standard that targets to achieve 50% of electricity generation through renewable energy sources by 2030. This program brings several incentives and friendly policies that make it easy to install solar panels in your home or business. It also affirms that there will be a ready market for the excess energy generated and enjoy a boost in your home’s value.
Get Your Solar Panels Installed Today With Solar Optimum
Las Vegas is undoubtedly an exceptional location for homeowners to embrace solar energy. It offers opportunities to enjoy federal and utility-provided incentives, among other benefits. At Solar Optimum, we’re ready to help you install solar into your home and enjoy the numerous benefits it presents. Contact us to get a free solar quote or download our Ultimate Guide to Going Solar to learn more.
