Nevada Energy’s Storage Programs
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Ever wonder what the big deal behind solar storage is?
Nevada is a booming state for solar. The problem is that solar arrays can’t store the power it generates.
The ideal solution would be to install battery backup, like the Tesla Powerwall. However, these storage options are expensive, which is why many people have opted to stay connected to the grid. They then use different solar backup options to power essentials during an emergency.
The Federal Investment Tax Credit has made these backup options a viable alternative for many. However, with the NV Energy storage program, battery backup investors can save even more.
Nevada Energy Storage Program Terms and Conditions
In 2018, NV Energy expanded its renewable incentives with its storage program. This program, however, is not available to everyone. Only NV Energy customers who either have solar or plan on installing it can qualify, which means this credit only applies to individuals that also advocate solar.
However, this isn’t the only thing that can affect this incentive. Certain types of customers also receive more incentives than others.
NV Energy’s Program Priorities
One of the priorities for this program includes customers with critical infrastructure. Critical infrastructure includes facilities like airports and hospitals. It also covers public safety facilities and public infrastructure facilities or dams.
These customers have priority over other customers. They also receive larger NV Energy incentives.
Battery Backup and Time of Use
Another way people might acquire more from NV Energy is if they are on a time-of-use (TOU) plan. This payment option tracks when the customer uses electricity and then charges them based on the time of electricity use.
Several factors go into the pricing for this payment option. However, for the most part, it has to do with the supply and demand of energy in the area.
For instance, there may be a higher demand for energy in the evening because more people are home. Those on TOU would pay more for energy used during this time. However, they would also pay less than everyone else for the energy consumed when everyone is sleeping or at work.
TOU metering can save money if the customer is conscious of when they use energy. For those also getting energy storage, these savings increase because energy storage helps decrease grid use during high-demand hours. However, it’s also because battery storage allows homeowners to optimize NV Energy’s TOU metering.
Residential Storage Rebate Program
There are two categories in NV Energy’s storage program. The first is the residential rebate.
This rebate is for systems between 4-100 kW. For residential customers, the payment plan the solar customer has opted for makes a difference.
Solar customers on TOU receive the lesser of 50 percent of the project, $3,000 or 22 cents per watt-hour (Wh). Residential customers that have opted out of the TOU will potentially get less because instead of 22 cents per Wh, they receive 11 cents per Wh.
Commercial Storage Incentive Program
Commercial storage incentives include systems between 4-1,000 kW. For Commercial customers, their options differ based on two variables. Whether they qualify for the federal investment tax credit (ITC) and if the system is a critical infrastructure.
Systems that qualify for the tax credit have the option of getting 25 cents per Wh. Those without the tax credit can get 35 cents per Wh. Critical infrastructures eligible for the ITC can get 40 cents per Wh, and critical infrastructures that aren’t eligible for the ITC can get 50 cents per Wh.
All commercial systems receive the lesser of their options. These options include the maximum on the reservation notice, the incentive payments listed above, 50 percent of the installation or the customer type cap. This cap is between $50,000 and $300,000, depending on infrastructure type.
Federal ITC in Conjunction with NV Energy Storage
The ITC is a dollar-for-dollar tax credit applied toward purchased solar arrays. However, this credit can also apply to energy storage systems; they just need installing in conjunction with renewable energy.
Although Commercial customers with the ITC get less per watt from NV Energy, it doesn’t mean taking this route is a bad option. This credit accounts for a large portion of both solar and storage costs.
Another benefit of the ITC is that residential customers don’t get less from NV Energy for having it. These individuals get up to 26 percent off the cost of installing solar and storage and qualify for utility incentives.
The only issue is that the ITC will phase out over the next couple of years. If you want the best deal, it’s better to invest in solar and storage now before this incentive decreases.