Solar Panels in Nevada | 2021 Cost and Incentives | SaveOnEnergy®

Nevada Solar Panels: Pricing and Incentives

Nevada Solar Panels

As solar energy becomes more prevalent, Nevada remains a national leader, generating more than 4.1 percent of solar power in the United States. It comes as no surprise that Nevada is a leader in solar energy since it began implementing pro-solar policies in the early 1980s.

Like many states, Nevada has seen an increase in residential solar systems over the past decade. Homeowners have been able to save money and reduce their carbon footprint by investing in home solar power. Keep reading to learn about residential solar power in Nevada and how SaveOnEnergy can help connect you with a solar installer.

Nevada solar panel cost

The cost of a residential solar system depends on several factors, including the size, configuration, and components included. On average, systems cost between $3 and $5 per watt. For the average 50kW residential system, the price tag will be between $15,000 and $25,000 before tax credits and rebates.

There’s no doubt that solar systems are expensive, but you don’t have to pay for your entire system upfront. Most solar providers allow you to finance your system, with the average payback period ranging from 6 to 9 years.

Why choose Nevada solar power?

Lower energy costs 

One of the best reasons to invest in solar power is the savings you can see in your monthly energy bill. For every hour that solar energy powers your home, that’s an hour that you aren’t paying to use the electricity from the grid. And with the average Nevada electricity bill being about $100 per month, there’s the potential for more than $1,000 in annual savings.

In addition to the energy savings, you might even be able to make money on your solar generation. There are often opportunities to resell your excess solar power for a profit through programs called net metering.

Establish energy independence 

When you have solar panels on your home, you have the potential for energy independence, meaning you aren’t reliant on the traditional power grid. First, this gives you the opportunity to reduce your monthly costs. But even more importantly, you can avoid steep electricity rate hikes during times of high demand. Finally, energy independence means you aren’t vulnerable to power outages when the power goes out in your area.

Go green

Solar energy doesn’t just come with cost savings, but there are also environmental benefits. Traditional electricity generation results in greenhouse gas emissions, which contribute to climate change and air and water pollution. By investing in solar power, you’re reducing your home’s carbon footprint and doing your part to protect the environment.

Nevada solar panel incentives or rebates

Installing a solar system for your home can be expensive, but there are plenty of financial incentives in place to help you save.

First, the federal government offers a 22 percent tax credit to homeowners who install green energy infrastructure like solar power. This credit was set to expire, but Congress recently renewed it. However, it likely won’t last forever, so homeowners should purchase their solar panels sooner rather than later to ensure they can take full advantage of the credit.

There are also savings specific to Nevada residents. Homeowners in the state have the opportunity to partake in net metering, where they get credits for the electricity they generate.

Should I buy or lease my solar panels?

When you install solar panels on your home, you’ll have the option to either buy or lease your system. Leasing your solar panels comes with several benefits. There are fewer upfront costs, and you aren’t responsible for maintaining and repairing the panels.

However, there are also some serious downsides to leasing solar panels. First, buying your solar panels makes you eligible for the federal tax credit, which you can’t claim if you lease your system. Additionally, purchasing and installing solar panels can increase your home’s resale value by $15,000. But this isn’t the case with leased panels because the solar panel company retains ownership over them.

Another option is a community solar program, which is available to individuals who can’t afford to buy solar panels or who don’t have the option of making improvements to their current homes. With these programs, all participants purchase or subscribe to a percentage of the power the panels generate, which is added as a credit to their electricity bill.

Nevada solar panel companies

There are many different solar panel companies in Nevada that can help you harness the power of the sun. With so many options to sort through, it’s important to educate yourself about the solar industry so you know what to look for. SaveOnEnergy offers a wealth of resources to make this process easier.

The history of solar power in Nevada

Nevada is ranked in the top ten for solar energy generation in the country, and so it’s no surprise that the state got an early start. Nevada implemented its first solar energy policy in 1983 when it passed a property tax exemption for commercial and industrial property owners. The state took further steps throughout the 1990s to expand solar energy.

Today, Nevada generates 353k megawatt-hours of solar power, creating 4.1 percent of the nation’s solar energy. Solar power is responsible for 14.72 percent of the state’s electricity generation, thanks to a combination of residential, non-residential, and utility solar systems.

Important solar installation factors to consider

Solar panels can be an excellent investment, but there are a few things you’ll need to consider before you add them to your home.

  • The state, age, and angle of your home’s roof: According to the Department of Energy, solar panels are best suited to roofs with angles between 15 and 40 degrees. Additionally, solar panels may not be best on older roofs that won’t need to be replaced soon.
  • How sunny your home is: It’s no surprise that solar power is most effective in states that get a lot of sunshine, which is good news for Nevada residents. Consider the amount of sun your roof receives each day before investing in solar panels.
  • HOA or neighborhood rules: If you have an HOA or neighborhood association, be sure to check your rules ahead of time. Some associations may limit the use of solar panels or require approval ahead of time.

Solar power FAQs

How much would solar cost in Nevada?

Residential solar systems cost between $15,000 and $25,000 for Nevada residents, but this cost can be offset by tax credits and rebates.

Is solar power a good investment in Nevada?

Solar power can create long-term savings for Nevada residents but requires a significant upfront investment. Whether it’s a good investment for you depends on your location, local weather patterns, and energy usage habits.

How much could I save by investing in solar?

The average monthly cost of utility bills in Nevada is about $100 per month, meaning there’s the potential for up to $1,200 per month for the average homeowner. That doesn’t even account for the savings from tax credits rebates, net metering, and an increase in your home’s resale value.

Where can I find a good solar panel installer in Nevada? 

You can begin your search to find a great solar panel installer in Nevada with SaveOnEnergy’s solar guides. From there, be sure to research available solar companies in your area, read reviews, and ask for customer testimonials before signing a contract.

How does solar power help the environment?

Traditional electricity generation emits greenhouse gasses, which are harmful to the environment. That’s not the case with solar power. Investing in solar power reduces your carbon footprint and helps avoid additional air and water pollution.

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