Nevada's Rebates and Incentives for Solar Energy Systems
Another prime solar state in the American Southwest, Nevada has ample opportunity to utilize solar energy to satisfy the hefty electrical needs of sleepless cities like Las Vegas and Reno. Driving the whole shebang is the state's Renewable Energy Portfolio (REP) which requires 20% of Nevada's power to be provided by renewable energy sources by 2015. This is more ambitious than other states because it is relatively short term; just seven years to get it done! In addition, five percent must come from solar energy. Nevada hopes to accomplish this with a mixture of concentrated and customer-generated solar power. Here's what the Silver State has to offer its solar-minded homeowners:
TAX CREDITS AND EXEMPTIONS
Renewable Energy Systems Property Tax Exemption
- Available for owners of solar electric, active or passive space heating and hot water systems, this tax law exempts the homeowner from 100% of property taxes resulting from added assessed value of the home.
- This property tax exemption is big considering that the accepted value of a solar system is 20x the first year's energy savings; a hefty number in a state as sunny as Nevada. Should you sell your house it is likely that your system will have paid for itself, even after one year.
REBATES
Solar Generations PV Rebate Program
- This rebate incentive is for customers of (and administered by) Sierra Pacific Power and Nevada Power. Rates for residential systems will be $2.30/watt AC starting in 2009 and are set to decline annually through 2013 when, one can only assume, the program will be revised. Maximum levels are 5,000 watts and $11,500.
- Rebates are currently unavailable but applications will again be accepted starting September 4, 2008. Furthermore, in 2007, the rebate program was made permanent by the Nevada state legislature; good news for aspiring solar homeowners in Nevada.
- The two utilities will take ownership of any renewable energy credits (RECs) earned by the homeowner in an effort to reach their RPS goals.
NET METERING
- Net metering is available for solar electric producers (both thermal and PV) with systems up to 1MW in size. All investor-owned utilities must offer customers net metering.
- In Nevada, net excess generation (NEG) is carried over to the next month's bill without any apparent expiration. For further details see the Public Utilities Commission (PUC) of Nevada.
While other states may have more lucrative rebate programs than Nevada on paper, there are two important things to consider. One is the amount of sunshine the average Nevada household receives on a daily basis (room for ALOT of electricity generation). Two is that the program has been made permanent, so there is no rush and the state should see steady growth in its solar industry.
Overall, Nevada is doing pretty well. With abundant sunshine and property tax-free solar systems, going solar is a reliable investment. More reliable than a slot machine, I dare say.
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