Nevada’s Renewable Portfolio Standard
Last Updated: March 25, 2021
Each state’s renewable portfolio standard plays a role in whether the state will accommodate solar and other renewable energy options. These standards encourage utilities to incentivize renewables.
Nevada has a rocky history with solar. However, after Nevadans let the state know how they felt, changes came. Today Nevada is again one of the best places to have residential solar installed.
Nevadans, however, aren’t satisfied with good. They strive for greatness, which is why this clean energy bill became a law in 2019.
How Nevada’s Renewable Portfolio Standard Increases Solar
Nevada’s past renewable portfolio standard encouraged the state to produce 25 percent of its power from renewable energy by 2025. Although a good goal, Nevadan’s weren’t’ satisfied. They wanted an even greater degree of renewable energy incentives.
In 2018, despite utility company opposition, Nevadan’s voted for ballot question six. If passed again in 2020, it would have increased the state’s renewable standard significantly.
Knowing that Nevadans wanted this standard increased, government officials worked to make it happen sooner, and by the end of April 2019, SB 358 became law.
Understanding Nevada’s Senate Bill 358
Senate Bill 358 increases the state’s Renewable Portfolio Standard to 50 percent by 2030. It also calls for 100 percent carbon-free energy by 2050.
To accomplish these lofty goals the state has increased to whom the standard applies. Before, Nevada’s standard only applied to NV Energy. This new law, however, includes all electricity providers in Nevada.
Increased Renewable Energy Receives a Unanimous Vote
The bill quickly passed because legislators were all on the same page at the time of the bill’s presentation. It had a unanimous vote by both the state senate and assembly, a rarity in politics. The Governor then signed it within one month without opposition.
Current Impact of this Solar Related Bill
This bill did not change any of the regulations for 2019. However, all subsequent years now have higher renewable energy standards.
This means that residential solar has become a viable energy solution for Nevadans for years to come. As a direct result of this bill, all utility companies have an incentive to pay their Nevada solar customers’ for energy credits and provide favorable net metering.
Energy Bill’s Increased Reach
This bill’s inclusion of all Nevada utilities is a big deal. It means that no matter which electric provider a Nevada resident has, the utility has to meet the state standard. Although the majority of Nevadans use NV Energy, the state still has ten other electric providers.
Nevada’s renewable energy standards increase the appeal of residential solar. Now solar has become a statewide option instead of an NV Energy perk.
How SB 358 Affects the Future of Solar
This bill provides a lot of potential for the state of Nevada. The Natural Resources Defense Council (NRDC) and their partners completed studies on the benefits of Senate Bill 358. The results of these studies were pretty impressive.
They found that this bill could save ratepayers $192 million over the next 20 years. These savings come as supply decreases and the resulting price for fossil fuels increases.
As time continues, jobs in the electric sector will evolve, and renewable energy jobs, such as solar, will increase. This bill is projected to bring in more income to Nevadans and support 11,170 clean energy jobs by 2030.
With the implementation of this bill, researchers found that the grid will run more smoothly. This prediction comes due to the implementation of smart-grid technology in conjunction with sustainable energy solutions.
Most importantly, this bill will decrease the electric sector’s carbon footprint. By 2030, carbon dioxide emissions will reduce by 28 percent, and nitrogen oxides will reduce by 13 percent.
The Expectation of Residential Solar
Because of these increased standards, solar will be here for the long haul. Nevadans have voted for a solar-friendly state. Now that state officials have made it possible, the future is in your hands as a Nevada citizen.
If your Nevada home qualifies for solar, it doesn’t make sense to wait.