A Guide to Nevada Energy Rebates: From Solar to Wind
If you’re looking for a quick and accurate guide to Nevada energy rebates, you’ve come to the right place. Although we’re a solar company, we support all forms of energy efficiency. That means compounding solar with a range of other energy-efficient resources.
Nevada’s System Specific Renewable Energy Rebates
There is a bundle of renewable energy technology that has emerged. Among these are thermal solar systems, wind power, and hydropower.
Solar Thermal System Program
In 2009 Nevada started requiring public utilities that supply gas to implement rebates. These programs are for solar hot water systems with a goal of 3,000 installations by 2019.
Wind Power Incentives
In 2007 Nevada made a goal of having at least 5 megawatts of wind energy systems installed by 2012. As a result rebate programs are available for those that have this form of renewable energy. NV Energy offers a one-time cash incentive to their small windmill system customers.
Hydropower and Renewable Energy
Electric companies are now required to provide incentive programs for water power systems. These incentives are in place to help Nevada reach 5 megawatts of hydro energy systems by 2016.
NV Energy has instated production-based incentives for micro-hydro systems. These incentives are for systems under 500 kilowatts of electricity.
This option is for both agricultural and tribal NV Energy customers. Customers receive a quarterly payment over a max of 5 years.
Photovoltaic Nevada Rebates
Each electric company can give up to $255,270,000 toward qualifying solar projects until 2021. NV Energy’s program offers an installation incentive for approved solar systems.
NV Energy has both up-front incentives and production-based incentive program. Their production incentives get paid quarterly over a max of 5 years.
Nevada’s State Renewable Energy Programs
We want you to have clean air and your state does too. Each state has different renewable energy programs. Nevada has some pretty good ones.
Renewable Energy Property Tax Exemption
Among the programs that Nevada offers for renewable energy is a tax exemption. This is a property tax exemption for renewable energy system. This incentive is for commercial, industrial, and systems used for irrigation.
Revolving Loan Program
The Governor’s Office of Energy has tried to make solar more attractive with low-interest loans. Their revolving loans are available for large-scale renewable energy projects. These loans have a minimum of $100,000 and a maximum of $1,000,000 with an interest rate of 3% over a max of 15 years.
Large-Scale Renewable Energy Property Tax Abatement
New or expanding businesses in Nevada can receive a property tax abatement of up to 55 %. These abatements can last up to 20 years. They are for renewable energy sources that generate at least 10 megawatts of power and in operation for at least 10 years.
Direct Energy Assistance Loan
The Governor’s Office of Energy provides a 0% interest loan for up to $6,000 for state employees. These loans are strictly for state-approved energy auditor improvements to their homes.
Federal Incentive For Renewable Energy
Bravo, Nevada, for providing a way for renewable energy implementation! Every step toward a cleaner planet means a healthier you.
Federal Renewable Energy Tax Credit
One of the programs that the Federal Government is offering is a renewable energy tax credit. This credit covers 30 percent of your total solar array cost.
This is a dollar-for-dollar reduction in income taxes. If the 30% is more than you owed in one year, then the remainder can cover up to 5 years.
This tax credit will not always be there though. After 2019 the tax credit will decrease to 26%. It will then continue to decrease to 22% in 2021 and then to 10% in 2022.
After 2023 this tax credit will no longer be available for residential customers. It will, however, stay at 10% for commercial solar installs.
Renewables Are The Future
Everyone wants to be happy and healthy and clean air is the key to obtaining this for years to come. Join the wave of healthier living and become part of the change. Don’t wait to take advantage of the financial help these incentives have to offer.