Reno Solar Power: How it Stacks Up Against the Rest
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Although Nevada’s past legislation has shut down the solar industry, the future is looking brighter. Reno solar power is bigger and better than you might think.
When it comes to going solar, a couple of things make Nevada a good place to have solar installed. These variables organize into two categories: state policy and incentives.
Nevada State Policy’s Affect on Solar
Nevada has the 14th best Renewable Portfolio Standard (RPS) in the nation. In the RPS, Nevada mandates utilities generate or buy 25 percent of their energy through renewable sources by 2025. These standards encourage utilities to offer incentives to their solar-generation customers.
Nevada’s Solar Carve-out
At 1.5 percent, by 2025, Nevada has the 11th best Solar Carve-Out in the nation. Carve-outs require utilities to generate part of their power from specific energy sources. The solar carve-out equates to better incentives for solar customers.
Nevada Electric Prices
Nevada has the 19th highest electricity price at $0.12 per kilowatt-hour. Lower prices for fossil-fueled power make solar in Reno less economical.
These resources, however, are running out. Investing in solar will still save you from price inflation over the next 25 to 40 years.
Net Metering Program and Interconnection Policy in Nevada
NV Energy’s net metering program, as of 2021, pays solar customers 75 percent of the retail rate. This rate will stay in place until legislative action states otherwise. Thankfully, the net excess solar rate Nevadans installed solar at will stay the same for the next 20 years.
Reno, Nevada Incentives for Solar
No Solar Income Tax Credits But That’s Ok
Because Nevada doesn’t have a state income tax, getting state tax credits for solar isn’t possible. However, the Federal Tax credits cover 27 percent of your system.
This credit is a 1-to-1 dollar amount taken off the owed taxes of the system owner. Those who don’t owe federal taxes can’t take advantage of this credit.
Property Tax Exemptions for Commercial and Industrial Installs
Nevada grants property tax exemptions to commercial and industrial solar installations. Solar farms have a 100 percent property tax exemption.
Sale Tax Incentives for Large Solar Installs
Nevada also grants sales tax incentives to solar installations over 10MW. This sales tax incentive allows the completion of large projects at a fraction of the cost.
Solar Helps Protect Your Future
Solar now saves money while cleaning the air from further pollution. Installing solar on your Reno home now rather than later will help you save even more because of the available solar incentives.
Current incentives, however, won’t last forever. Protect your future and get the most out of your investment by getting several residential Reno solar quotes.
Once you have looked at your top options, it is time to make a decision. Deciding to install solar now will ensure that you can take advantage of current incentives.