The Nevada Solar Incentive That Most Overlook
Last Updated on
Incentives are a large reason why solar is an affordable option in Nevada. Most incentives, however, are dependent on the solar policy of the state and local utility companies.
Without a quality solar policy in place, incentives won’t make a difference. Before looking at solar savings, determine if the area has any solar-supporting policies.
Solar Panels in Nevada
Nevada’s past solar policy has helped ensure solar customers are treated fairly. These new policies have made obtaining solar in Nevada a no-brainer.
Nevada Solar Policy
Nevada has a renewable portfolio standard. This standard requires utilities to produce 25 percent renewable energy by 2025. Of this generation, at least six percent needs to come from solar energy.
If utilities don’t comply with these standards, they have to pay a fine. This charge encourages utilities to pay for customer solar generation and energy credits.
Nevada Net Metering
As a regulated utility market, NV Energy produces electricity for most of Nevada. To encourage their customers to go green, they now offer a set 20-year net metering return rate. To keep this rate, customers need the same meter the entire time.
Nevada Solar Power Incentives
Since Nevada has been deemed a conducive climate for solar, it’s a good time to look at well-known incentives. Nevada has two types of incentives citizens considering solar should keep on their radar.
These include state and federal renewable energy compensation programs. Incentives between these two cover a large portion of the array costs.
The federal solar incentive, also known as the ITC, pays up to 26 percent of a solar installation through tax credits put toward the taxes the array owner would otherwise have owed. You, however, need to have taxable income to claim this credit. (You can still be retired and have taxable income).
Nevada State Solar Incentives
The state offers a revolving loan program. This loan is at three percent interest over 15 years. The catch is that the loan has to be between $100,000 and $1,000,000, making this loan an unlikely option for a residential installation.
The last state incentive is the 100 percent property tax exemption. When homeowners purchase residential solar, it increases property value. This tax exemption covers the increase in property taxes. For more information on the kinds of savings Nevada residential solar can earn for you, see our Nevada solar savings calculator link.
These incentives alone provide ample reason to get solar. That is why many forget that solar companies have incentives, too.
The Nevada Solar Incentive You Didn’t Think About
Many solar companies also offer an incentive for solar customers. They do this in the form of referral payment.
Solar companies know that word of mouth is far more effective than advertising and less annoying than cold calls. Many solar companies offer incentives to their customers for referring their friends and family.
Savings potential from a referral depends on the prospect. If enough friends and family purchase solar, it could pay off the remainder of the array.
Nevada Solar Programs
There are a couple of things to look out for when referring friends and family to solar companies. First and foremost, make sure it’s a company you trust. Secondly, look at what the company offers for your referral.
Not all Nevada solar companies are equal. Their incentives can be just as important as their product quality and services.
What to Look for in a Solar Referral Program
Most companies have a referral program. Before committing to anything, look at the product quality, the reward and the qualifications. After measuring these, you can determine if the solar referral program is worth it.
What Solar Installer Incentives Offer in Reno
Finding a good solar referral program is harder than you think. Just because the company is well known doesn’t mean they have the best incentives. Here are a couple of Reno’s solar installation companies and the rewards they offer for their referral programs.
Solar City/Tesla Referral Program
Tesla acquired Solar City in 2016. Tesla and Solar City used to have separate solar referral programs.
When the companies combined, Solar City adopted the Tesla referral program. This program discounts the referred customer’s system by $100 and awards $400 to the referrer. After ten successful referrals, they can earn a Powerwall.
Referral Program for Sun Power
SunPower has a referral app so you can monitor your referrals and see their progress. SunPower referrals count when they meet three conditions.
These include a legit candidate for solar, a scheduled and kept appointment. For each qualified appointment, the SunPower customer receives $100.
Peterson Dean Referral Program
PetersonDean offers $250 for every referral that has purchased solar from them. Only current customers receive credit for referrals. They can refer either online or through their referral app.
The Sun Works Referral Program
Sun Works has a referral app called Power Pay. Sun Works pays $1,000 for every referral that ends up purchasing solar. Only Sun Works customers can receive the referral credit.
The Referral Program for Simple Power Solar
Although Simple Power Solar may have a referral program, there is nothing on their website. Either they aren’t focusing on their referral program, or they don’t have one. In either case, it seems that this is probably not the best company to go with if you value a quality referral program.
Go Solar Group Nevada Solar Incentive
Go Solar Group’s incentive program stands out because it rewards everyone. Unlike other referral programs, we reward you for qualified referrals regardless of whether you’re our customer.
To receive the incentive, the referral needs to be eligible for solar and purchase a system. There is no limit to how many referrals you can give, making the world your oyster.
As long as they purchase within a year from the time referred, you will get the money. This time crunch is why it is best if you talk to your referrals before and gauge their interest.
Sun Share Club: Customer Referrals
We know finding a good solar company is a process. That’s why we give rewards for your hard work. Go Solar Group rewards you for sharing your great find with your friends and family. Go Solar Group’s referral program awards $500 for each qualified referral.
Sun Split Club: Non-customer Referrals
Unfortunately, solar isn’t the best fit for everyone. Everyone wants solar, but not everybody qualifies for it. Several factors go into solar qualification. It may not be the right fit for you, but you can still get rewarded for sharing your research.
All Go Solar Group qualified non-customer referrals can receive $500 for every qualified referral. Although Go Solar Group may not be a good fit for you, it might be perfect for someone else you know. At Go Solar Group, we feel it only makes sense to everyone who cares about helping their friends and family.