Neon signs, dancing fountains, and a growing number of solar arrays on rooftops are among the sights populating the Las Vegas Strip. Throughout Nevada, interest in solar energy continues to skyrocket, spurred on by some of the best solar incentives in the country and the pursuit of eco-conscious living. While solar panel installation for your home or business does require an upfront investment, the subsequent benefits are yours for decades to come.
Top 10 Reasons Why You Should Go Solar In Nevada
Whether you’re helping the environment, boosting electric bill control, or taking advantage of a federal solar tax credit, there’s never been a better time to consider installing solar panels in the Silver State. Traditional utilities are slowly losing ground to solar power as more and more people go off the grid. In fact, Nevada’s goal is to generate 50% of its electricity from renewable resources by 2030. Choosing solar power and getting ahead of the state movement is a big decision, so we’re shining a light on a few reasons why so many Nevadans are deciding to make the switch.
1) Reduce Your Electric Bill
One of the biggest benefits of going solar is savings. Nevada residents pay an average of $111 each month for electricity, which totals $33,000 over 10 years. Once your solar panels are installed, you will notice a reduced electric bill cost during the first month, and those savings will only increase moving forward. A solar energy system may even eliminate your electricity bills altogether.
2) Solar Incentives
Rebates and incentives significantly reduce your cost of solar equating to substantial long-term savings. That means solar panels can pay for themselves in as little as five years. And Nevada residents are in luck because we’ve got some pretty great federal, state, and local programs.
Installing solar panels earns you a federal tax credit. The Investment Tax Credit (ITC) allows you to deduct 26% of your solar installation cost from your federal income taxes lowering your bill. You can qualify for the ITC for the tax year you installed your solar panels as long as the system generated electricity in the U.S. It’s important to note the federal tax credit falls to 22% at the end of 2022, but still provides tremendous savings.
While Nevada does not have a dedicated state rebate for solar panel installation, some manufacturers like LG offer their own solar rebates. NV Energy, the power company that services most of Nevada, also offers two different battery storage incentive rates that represent up to 20% of the total installed costs of the batteries.
3) No Solar Tax
Some states, such as California, are proposing a hefty monthly solar tax fee for customers, but that is not on the docket in Nevada. In fact, Nevada customers of a public utility can save money at tax time because the money, credits, or subsidies they earn on solar are not taxable. Additionally, residential and commercial property owners can get property tax abatements to offset their investments in renewable sources like solar panels.
4) Net Metering And Monetary Credit
Net metering means if you generate more electricity than you need, the power company will buy it back from you. The clean solar energy is then used by other homes in the area. Nevada entered Tier 4 of its Net Metering System after June 2020, meaning that homes or businesses that install solar arrays now can expect to receive monetary credits worth 75% of the retail price for every unit of electricity they sell to NV Energy for a period of 20 years. This is a higher rate than offered in many other states.
5) Solar Access Laws
Nevada’s solar access laws prohibit solar restrictions, protecting your right to install and generate electricity with solar panels. In Nevada, no contract or other legal document such as homeowner’s association bylaws can prohibit you from installing solar. These laws prevent real estate, zoning, and communities from hindering solar installation without reasonable cause. You can also enter into a solar easement with your neighbors in Nevada to ensure you have continued access to sunshine in order for solar panels to generate electricity.
6) SEIA Ranks Nevada 6th In U.S.
According to the Solar Energy Industry Association (SEIA), national solar energy rankings, Nevada is ranked sixth overall in the nation based on several factors including the 18.24% share of solar electricity in the state, 6,174 solar jobs, 4,244.9 total megawatts installed, and 79,097 existing installations.
7) One of The Biggest Solar Economies
Nevada has the biggest solar economy in the U.S., according to a report from Stacker.com. The website analyzed data from the SEIA national ranking to make that determination considering the state’s job creation, environmental protection, and overall solar production. Nevada paved this green path forward over a decade ago. In 2010, the state’s Silver State North Solar Project became the first approved large-scale solar energy project on U.S. public lands.
8) Lots of Sunny Days
It’s no secret — the Nevada lifestyle revolves around the sun. Residents see an average of 294 sunny days per year. A warm and sunny climate with vast deserts means that solar systems here produce more electricity, on average, than elsewhere in the country.
9) Longevity For Solar Panels On Tile Roofs
It’s understandable to worry about lifespan and how solar panels will affect the roof of your property. There is good news for those of us living and working in the Southwest. Clay, slate, or concrete tiles are some of the most durable and long-lasting roofing materials that you can have beneath solar panels.
Tile roofs can last up to 100 years, compared to other types of roofs that have a 20-year lifespan. What’s more, the average solar panel lifespan is several decades when properly cared for, making them an excellent way to lock in long-term savings on your power bill. Plus, prices have fallen 4% over the last five years, according to the SEIA.
10) Increases Home’s or Building’s Value
Homes or buildings with solar sell for more than structures without. Anyone moving in will benefit from reduced energy expenses, which adds to the appeal. Studies show that homes with solar electric systems sell more quickly and for a price of 17% more than homes without solar.
Let Bell Solar & Electrical Help You Go Solar This Year!
If you’re just as interested in saving money as you are saving the planet, Bell Solar & Electrical Systems is here to help you transition to solar with ease. We’ve been providing solar energy solutions since 2010 when we became the third licensed contractor in the state of Nevada to hold a photovoltaic license. Our qualified journeyman electricians are ready to install a solar array for your residential or commercial property when you’re ready to go green. Contact us to request your free solar quote today to learn how Bell Solar & Electrical can help with your transition to a sun-powered lifestyle.