Nevada Solar Incentives and Tax Credits
You might be wondering if solar incentive programs are available in Nevada. Fortunately, the Nevada legislature has presented several incentive programs for homeowners to stimulate the development of clean and reliable energy sources in Nevada.
Thanks to this incentive and rebate programs, homeowners can now own solar panels at a reduced cost. With that said, let's get a grip on Nevada's solar incentive and rebate programs.
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Net Metering
In addition to reducing their electric bill, most people go solar due to the associated monetary credits. For instance, net energy metering offers credits to customers for the excess electricity supplied to the grid. Most times, the electricity your solar panel generates is more than your home needs. Consequently, you can get 75% credit of the retail rate for the excess power you sell to NV Energy.
Similarly, Valley Electric Association service users won't receive partial payment for electricity directed into the grid. However, they are eligible for a credit worth 75% of the rate paid to their utility company.
Federal Solar Investment Tax Credit (ITC)
With Solar Investment Tax Credit, you can reduce the upright cost of your photovoltaics PV) solar system by 30%. The ITC, now referred to as the Residential Clean Energy Credit, defines a customer's eligibility. ITC customers must purchase their solar panels outright through cash or a loan.
Tax-exempted individuals are qualified for direct payment, while income earners must possess good earnings for their tax credit to be significant.
Nevada's SRECs
Solar Renewable Energy Certificates (SRECs) are called Portfolio Energy Credits (PECs). For you to participate in the PEC incentive program, you must register your solar system with the Public Utilities Commission of Nevada (PUCN).
Just as net metering, sales of electricity also take place in PEC. However, the Renewable Portfolio Standard (RPS) is in charge of the utility produced from the sales of electricity generated from renewables.
Nevada Solar Access Laws
Maybe you heard of a law that restricts Nevadans from using solar. It's all lies! Even the brilliant sunshine in Nevada won't support that. It's the other way around; laws are passed in Nevada to promote the right to own a solar system.
Legal documents or contracts are acted against to ease the installation and generation of electricity from a renewable source.
Get Professional Help with Solar Panel Installation in Nevada
If you are ready to kick-start your solar journey, EcoGen is the best solar agency for you to team up with. Our solar professionals help you to save money on solar system purchase and installation. Furthermore, we help you navigate the incentive programs to get the best deal. Contact us today to unlock Nevada Solar incentives and Installation packages.
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