Clarifying Nevada Rooftop Solar’s No-Cost Programs
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Everyone wants to save as much as possible, and free is even better. Advertisements about free products are often misleading though.
Clarifying the misconception of no-cost Nevada rooftop solar programs is imperative. Especially for those searching for the best solar solutions for their Reno home.
Clark County No-cost Program: Truth or Scam
Many want to know what all the hype over Clark County’s no-cost solar program is about. The truth is that this was a scam.
Fake notices were put up in Clark County stating that the state was required to pay for solar. The posters even had a reference to Nevada State Law A.B. 405.
This, however, is not the case. Clark County doesn’t have a no-cost solar program, and A.B. 405 says nothing about a no-cost solar program. Ironically, this bill actually instructs the commission to help customers with complaints against dishonest solar companies.
Nevada Solar Power Incentives
Although solar isn’t free there are incentives that make solar affordable. Solar is also an investment that makes money which is even better than free.
Current Federal Incentives
The main federal incentive for solar arrays is the 30 percent solar tax credit. It is called the solar Investment Tax Credit (ITC).
Businesses have the option of taking advantage of the PTC instead of the ITC. Businesses are also able to take advantage of deductions, depreciation, and exemptions.
Nevada State Incentives
The state gives out Portfolio Energy Credits to every solar array installation. Solar customers can sell these credits to their local utility company. Utilities need these credit to hit Nevada’s Energy Portfolio Standard, so they have incentives to ensure they’re on pace to hit these marks.
The State also has some incentives that are specific to commercial installations. They can take advantage of both property and sales tax incentives.
Getting the Most Out of a Nevada Solar Purchase
There are a couple of ways to get a photovoltaic system financed. The main options include paying in cash, obtaining a loan and leasing the panels. Which one to choose is important because financing options influence the return of investment for solar.
Paying in Cash
Cash is the best way to pay for solar. The main reason is that there is no interest owed. Most solar companies will also give a discount for paying in cash.
Reno NV Solar Loans
Getting a low-interest loan with a short payback period is the next best option. It is important to make sure that the numbers for the loan make sense. For instance, paying less per month is great, but if the interest rate and loan term are higher, it will actually cost more.
Nevada Power Purchase Agreements (PPAs)
A Power Purchase Agreement, also known as a PPA, may sound good at first, but it actually costs more. A PPA is a solar panels lease. Instead of owning the panels, solar customers pay to use the solar company’s panels.
Leasing solar lower customer’s monthly bills by paying less per watt of power. If the goal is only to decrease the monthly bill, this may be a good option. However, if long-term savings is the goal, a PPA won’t be as viable of an option.
Those that get solar leases actually end up paying more for their energy over 25 years on a PPA than they would with a 15-year loan. Individuals also don’t receive any of the state or federal incentives. Instead, all of these incentives go to the solar company that owns the panels.
Getting Solar for Your Reno Home with Go Solar Group
Becuase owned solar arrays are more beneficial to customers, Go Solar Group doesn’t lease solar arrays. If you would like to get a customized quote for your Reno business or home, you can fill out our quick survey.
Within a couple of days, one of our associates will call to set up a free no-obligation appointment. You will receive an in-person, no-pressure analysis of your solar savings from one of our expert solar consultants.