In Nevada, solar power already accounts for 23% of total energy production, but the solar potential is just getting started. With multiple incentive programs ramping up for 2024, the rate of solar installations is likely to accelerate. Read on to learn how to make the most of federal and Nevada solar incentives, and leverage your solar access rights for maximum benefit.
Nevada’s Long-Term Goals
The state of Nevada has committed to getting a majority of its energy from renewable sources. Senate Bill 358 doubled Nevada’s previous renewable energy target, from 25% (now fully met) to 50%. This new goal is set for 2030, which aligns with many similar efforts throughout the U.S. and other countries. Local Nevadans can achieve their share of energy independence through a variety of incentives.
Federal Solar Tax Credits
You can take a huge portion off a new solar system’s price tag by applying for new federal tax credits. The maximum residential tax credits are 30% through 2033 when they drop to 26% (and then 22% in 2034). There’s also a 30% commercial tax credit, which is guaranteed through 2025.
It’s unknown if, or in what capacity, further commercial tax credits will be offered. If they are, it’s reasonable to assume the rates will be lowered, so it’s best to act sooner rather than later. As always, federal tax credits are in addition to Nevada solar incentives.
Nevada Solar Access Rights
As one of the leading states in solar and other renewable energies, Nevada has taken statewide measures to help residents overcome obstacles to installing solar power systems on their properties. Nevada’s Assembly Bill 405, dubbed the “Renewable Energy Bill of Rights,” outlines several protections for home and business owners.
These protections give residents the right to “generate […] renewable energy” and “reduce his or her use of electricity […] obtained from the grid.” This means HOAs and other property associations can’t stop you from installing solar panels and start producing, storing, and even selling your own clean energy!
The bill also gives residents the right to, “fair credit for any energy exported to the grid.” Since Nevada Net Metering and AB 405 were passed in 2017, Nevada has seen extraordinary growth in renewable energy adoption rates.
Nevada Net Metering
Nevada net metering allows residents to obtain credits for renewable energy they feed into the grid. The credits apply to future electric bills, and rates differ for peak and off-peak hours as well as between northern and southern Nevada.
Maximum allowable credits amount to 75% of market value, and currently only NV Energy offers net metering. The best way to maximize net metering credits for your property is to install the most efficient solar system compatible with your type of roof and electrical system.
Take the Next Steps
Of course, these and any other solar incentives will make your journey to lasting energy independence in Clark County and the Greater Las Vegas area even sweeter.
Solar Optimum is the industry leader in residential solar power installation. Having paved the way for thousands of homeowners in California, Florida, Arizona, and Nevada, we’ve built a strong track record of customer-first service and industry expertise. Get started today—download our Federal Solar Tax Credit Guide, or contact us to start maximizing your energy and cost efficiency.
