Why Reno Nevada Solar Panels Mean Social Status
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Solar has become the main renewable energy for residential installs in Reno, Nevada. Although solar is spreading among all, the wealthy seem to have a particular interest in it.
The Purpose Behind Wealthy Reno Solar Purchases
Historically the wealthy were the only ones that could afford luxury items. Today with the use of credit many middle-class citizens also enjoy these items. The difference now comes in the purpose behind their purchase.
By in large, wealthy individuals make purchases based on what it can do for them. Being smart about your money is the first step to thinking like a millionaire.
Solar’s Impact on Reno Retirement Fixed Expenses
Although everyone wants to retire, the affluent are far better at saving for it. The wealthy invest in areas that build their wealth and decrease their debt. They realize that if you want to spend like there’s no tomorrow, you need to have the funds for it.
Investing so you can spend later is where solar comes into play. Solar panels allow people to prepay for their electricity for the next 25 years. Not having as many fixed expenses in retirement makes room for spending and giving more.
But the best part is that it’s at a reduced rate, so financially, it makes sense too. Those who purchase solar either upfront or through a loan save thousands of dollars.
Solar Panels Increase Nevada’s Long-term Public Health
One of the most publicized benefits of solar is environmental. As a renewable energy source, solar is an eco-friendly power choice.
What is less known is that the wealthy are more likely to make purchases that will secure or increase their health. Health investing is why they put more money into health insurance and organic foods. And it’s also a factor that goes into their solar purchase.
Powerful Reno Leaders Are In Support of Solar
Although the PUCN did push solar out of the state, Nevada has learned its lesson. Solar has won the support of the governor, higher education, and legislation.
The endorsement for solar is not on a whim. Powerful people have weighed the pros and cons of this renewable energy. After doing so, they have found it worth their stamp of approval.
If these leaders have found that solar is worth investing in, there is a reason for it. Following suit wouldn’t be a bad move.
Governor Sandoval’s Support of Nevada Solar
Governor Sandoval has been fighting to help revive solar ever since its abrupt end in 2015. Finally, In 2017 the Assembly Bill 405 came to his desk.
Knowing the security it would give solar customers, the governor approved it. But he hasn’t stopped there, he has also supported five other energy bills. These bills amend the mistakes made by the PUCN and compromise with NV Energy.
UNLV Solar Energy Initiative
Another Nevada solar supporter is The University of Nevada, Las Vegas. UNLV built the solar solutions center. This center plays a big part in their solar energy initiative.
The solar solutions center is for the improvement and implementation of solar in Nevada. The expectation is that it will become a national center of excellence.
New Solar Legislation Provides Protection For Solar Customers
Many good things have come out of Nevada’s solar legislation. These new benefits make solar a solid energy option for many.
SB 405 has reinstated net metering and set protections for solar customers. They now have the same rate for their net excess power for 20 years. It also protects Nevadans from scamming solar companies and provides new agreement and disclosure requirements for different financing options.
Among other things, the SB 65 protects Nevadans from a repeat in history. The PUCN is now required to make energy options that reduce cost a priority in their decisions.
The Rationale Behind Solar For Nevada’s Cognitive Elite
For those who enjoy weighing the pros and cons, solar has many pros in Nevadans’ favor. Solar helps the environment while saving consumers money. On top of that, Nevadans are also in one of the best areas for solar.
Solar Helps Nevada Home Improvements Save Even More
Home improvements increase its value, but they can also decrease the power bill. Smart thermostats and updating lights and appliances can help homeowners conserve energy.
Energy improvements decrease the home’s energy usage. For those who also have solar, the energy used comes from the sun instead of fossil fuels. Using the sun as the main power source is a healthy and economic choice.
Nevadans Save Money on Their Electricity With Rooftop Solar
It’s undeniable that solar prices have decreased. What once was astronomical is now affordable. On top of the affordable price with zero down financing, you don’t even feel the difference in your pocketbook.
Now we aren’t saying it will be a few hundred dollars. A solar array replaces electricity for the next 25 years. Long-lasting equipment isn’t cheap, but it is worth the investment.
If your utility company never hiked up their prices again, you would still save money with solar. Historically, however, utilities have increased their rates. To expect this trend to stop goes against logic.
Taking Your Slice of Nevada Solar Incentives Before They Run Out: Federal and State
Those that have done their homework know that solar is a viable option right now. With the incentives currently in place, you can save thousands of dollars.
Federal Solar Incentive for Nevadans
People can afford solar today partly because of the federal solar tax credit. This credit covers up to 26 percent of solar installations — a significant chunk of the cost.
If you purchased a system that cost $20,000, this tax credit would cover about $6,000 of that price. However, because it comes in the form of a tax credit, not everyone can qualify for it.
Those who don’t owe any taxes can’t benefit from this government incentive. If you owe less than the credit, it will roll over as long as the credit is still in effect.
Legislation passed in 2015 extended this credit to 2022.
- 2018-2019: The credit remained at 30 percent.
- 2020: The solar tax credit changed to 26 percent.
- 2021: The solar tax credit would have reduced to 22 percent.
- 2022: Residential systems would have stopped receiving a tax credit.
Legislation passed in 2020 extended this credit to 2024.
- 2021-2022: The solar tax credit stayed at 26 percent.
- 2023: The solar tax credit will reduce to 22 percent.
- 2024: Residential systems no longer get any tax credit. Commercial installs, however, will continue to get ten percent.
Nevada Solar Energy Incentives
Nevada also a few other incentives in place that make going solar easier on the wallet. These incentives, however, are mostly geared toward commercial installations.
Residential installations can qualify for performance payments. These come in the form of tax credits.
The reinstatement of net metering pays customers for their net excess energy, which comes as a credit on the monthly electric bill. These credits offset the cost of electricity taken off the grid when the sun isn’t out.
Nevada’s Solar Power Landscape
Nevada has an average of 6-7.5 hours of peak sunlight. Peak sun hours include hours during the day that the solar panels will produce the most electricity, which is when the sun is highest in the sky. Having more peak sun hours is critical to a high-functioning solar array.
Although Nevada is quite warm, heat isn’t the main factor here. A long cool day is far better for solar panels than a short hot one. Nevada has more peak hours because it’s closer to the equator, meaning the sun is in the sky longer.
Reno Solar Panels and Backup: Become a Beacon of Hope When Disaster Strikes
Those that have solar backup have a unique opportunity. Our reliance on electricity makes backup power in an emergency valuable. Having this tool in a crisis can help others and yourself.
Mitigate Reno Blackouts With Solar Backup
A typical outage will last about an hour, but some can last several hours. One hour may not be that big of a deal, but several hours or days could mean spoiled food in the fridge and freezer.
With backup energy, homeowners can continue their daily routine without any worries. Within a couple of minutes, they can connect to their choice of battery backup and continue as if nothing happened.
Prepare for The Worst, Hope for the Best
If a natural disaster occurs, the power grid may shut down. Having a solar array with a backup system allows the owner to become a safe house for friends and family. Your home would be a beacon of hope to those in distress.
If we ever did have the misfortune of losing power long term, there are other ways to continue. But life without electricity would be more difficult. Being prepared for the worst allows you to live without fear.