Nevada homeowners who are considering solar have a major advantage over residents in other areas — and it has a lot to do with the state’s main utility provider, NV Energy. The company has a number of exciting solar-friendly policies that not only make it cheaper and easier to install a solar system but also can help homeowners save more money on a monthly basis long after the installation is complete. Read on for everything you need to know about going solar as an NV Energy customer.
Nevada’s Net Metering Policy
NV Energy has a net metering policy designed to encourage customers to go solar. With this incentive program, NV Energy will credit you for any extra power you generate and send back to the grid. Specifically, you’ll receive 75% of the retail rate of electricity. If you use more energy than you send to the grid, you will be billed for the difference. However, you will earn excess energy credits on your future electric bills if you send more than you use in a given month.
Nevadans can also take advantage of the federal solar tax credit which can add to the benefits. All of these incentives can compound, helping you reduce installation costs, earn tax rebates, and reduce your energy bill by selling any extra solar power you’ve generated.
Time-Of-Use Billing
Another way to save more by going solar as a NV Energy customer is with the Time-of-Use (TOU) billing option. TOU rates refer to when your electricity costs depend on the time of day you’re consuming the most. In most areas, the utility company will charge higher rates when people use the most electricity (also known as peak hours) and lower rates when people use less (off-peak hours).
Peak hours are typically during the day when most homeowners are using lights and appliances, while off-peak hours are at night. Peak hours also change by the season, with rates typically going up during the summer when homeowners are using AC, and down during the winter. With solar, you can limit energy consumption during peak hours, which is a great way to avoid the higher rates and shrink your electricity bill.
Expanded Solar Access Program (ESAP)
The NV Energy Expanded Solar Access Program (ESAP) is designed to help bring solar energy to more homes in Nevada. This program makes it possible for eligible residents to receive energy from a solar energy source without the need to install a private solar system on their property. Qualifying low-income customers can get a lower rate for energy than the standard rate.
Is Going Solar With NV Energy Worth It?
In short, yes! NV Energy offers customers several incentives that are meant to promote solar panel installations in Nevada. Considering the benefits above, there’s a great opportunity to save big with a solar installation regardless of your budget or income level.
If you’re considering a switch to solar, our team at Solar Optimum is here to help. We specialize in solar installations, battery storage, and even roof repairs and replacements. Contact us today to get your free quote and take the first step toward saving with solar.
