Solar Energy in Nevada
Nevada has had a rocky past with solar, but with the return of net metering, things may be heading in the right direction.
The state revised their renewable portfolio standard (RPS) to require utilities to derive 50% of their energy from renewable sources by 2030. While increasing the amount of energy that needs to be produced by renewables is a huge step forward, the revised RPS removed the state’s solar carve out. There is no longer a minimum percentage of energy that must be produced by solar systems. However, the ambitious goal of 50% renewable energy may lead utilities to create new incentive programs.
Between net metering being reinstated and the federal tax credit, you have the potential for big savings if you act fast.
Nevada Solar Power Facts
$2.82 watt
Average cost: 5kW solar power system.
Average Payback time
On average it takes 9 Years 5 Months to pay back the system.
Average Lifetime Savings
On average, solar power can save you $75,033 over your lifetime.
5¢ kWh
This is the levelized cost of solar energy.
19¢ kWh
This is the levelized cost of energy without solar panels.
25,961 kWh
Annual power production of home solar panels.
Ready to get Started?
Take a FREE 30-second survey to find out if you qualify for solar panels.
Questions? Comments? Concerns? Contact us today!
How much do solar panels cost in Nevada?
Before 26% solar tax credit
Before 26% solar tax credit
Ave 15 year term, 2.5% price escalator
What are the pros and cons of installing solar panels in Nevada?
The advantage of installing solar panels in Nevada is that there is excellent sun exposure, so your solar panels produce a lot more energy than they would in other states. High levels of solar irradiance coupled with net metering translates into huge savings on your electric bill. All of this, in addition to the federal tax credit, can cover a significant portion of your installation costs.
The disadvantage of installing solar panels in Nevada is that the state does not offer much in the way of incentives or rebates, meaning it’s even more important to switch to solar now while the 26% federal tax credit is still available.