The Christmas season brings with it an increase of charity. People that don’t have the means to put food on the table come to the forefront of our minds. This year, however, is different.
Nevada’s Unemployment Rate
This year more Nevadans are able to afford the necessities of life. Jobs across Nevada have risen in 2018; in October the unemployment rate dropped to 4.4 percent. This is a dramatic difference from 2011 when Nevada’s unemployment rate soared to 13 percent.
Although there are many factors that go into employment, there are a couple of sectors that stand out. And oddly enough, the solar industry has some weight in all of them.
Solar’s Impact on Employment Over the Last Year
Over the course of the year, three sectors have had the largest amount of growth. These include construction, manufacturing, and durable goods.
Construction and Manufacturing In Solar
With the increase in solar has come the construction of solar facilities and panel manufacturing plants; there are currently 82 recorded solar companies in Nevada. Of this number, 10 are manufacturers and 35 are installers. Construction workers, especially former electricians, do best in installer positions. As solar has started to boom again, so has its need for qualified installers.
Solar Panels and the Durable Goods Sector
Durable goods are products that last more than one use. Solar has a guaranteed lifespan of 25 years. And that is just the warranty, solar panels have the ability to last much longer. The fact that this sector has increased over the past year is no coincidence.
Why Nevadans are Investing in Solar
Solar is a major reason behind job growth because the people of Nevada believe in a brighter future. The demand for solar increased after it was unfairly taken away from the people. As a result, Governor Brian Sandoval signed solar bills with regulations that protect solar customers. These changes have made solar an investment that Nevadans can count on.
Currently Available Incentives: Federal and State
The federal government has a tax credit that currently covers 30 percent of your solar array. This is a dollar-for-dollar credit taken from taxes that you would have owed. If you don’t have taxable income this incentive will not be available to you.
Because Nevada has a renewable energy standard you have two options. You can be reimbursed through NV Energy’s renewable generation program. Or you can opt to hold onto your energy credits and sell them to the State. When you sell your energy credits to the state you get more, but it takes longer to get it.
There is also a pretty good net metering program in Nevada. Currently, anyone that gets solar receives 95 percent of the retail rate for power they put onto the grid for the next 20 years. This covers the cost of electricity used when the sun isn’t out.
An Investment that Keeps on Giving
When you purchase solar your investment pays for itself. There are a couple of reasons why photovoltaics is a smart financial decision.
First and foremost, the federal and state incentives cover a large portion of solar costs. Then you have the savings that you incur over the life of the system. And lastly, solar increases the value of your home, which often boosts the home’s sale price by quite a bit.
Helping Improve Others Lives
One reason why many purchase solar is the environmental benefits that come with it. An average 5 kW system in Nevada will avert about 1 lb of SO2 and 1 lb of NOx each year. Although that may not seem like much it adds up. Each home that switches to clean power is making a difference.
Those who install solar through Go Solar Group go the extra mile. Through Go Solar Group’s non-profit counterpart, 1heart1mind, part of your purchase goes toward helping people in Africa.