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Over the last 10 years, the solar industry has grown tremendously both on a state and federal level. It’s hard to talk about booming solar energy markets without mentioning Las Vegas. A rebate from NV Energy, the federal solar tax credit and a strong net metering law make Las Vegas a haven for solar energy…not to mention endless sunshine.
How much do solar panels cost in Las Vegas?
The average price of a solar system in Las Vegas is about 3.34/watt which puts an average 6kW residential system at $20,040. While this figure may seem daunting to note that this is before any incentives and there are many zero down solar loans available.
Does NV Energy offer any solar rebates?
NV Energy offers a solar incentive program where customers get a rebate of $245/kW for systems less than 25 kW. If the system is over 25 kW there is a performance-based incentive which means you don't get an upfront amount but you get extra money for the power the system produces over time.
Given almost all residential solar systems will be less than 25 kW this puts the price for a 6kW system down to $18,570.
Are there any solar tax credits in Las Vegas?
Despite the fact there is no state solar tax credit in Nevada all Americans can claim 30% of the cost of their solar system as a deduction to their federal tax liability.
After claiming the 30% tax credit and NV Energy's rebate the final price of a 6kW solar system is $12,999.
How does net metering affect my investment in a solar system?
During the middle of the day, it is likely your solar system will produce more energy than needed in your home. This excess is sold to your utility through the grid and for each kWh of exported energy, you get a credit for 1 kwh of energy you can draw from the grid when your solar panels can't service your homes' electricity demand (e.g. at night). At the end of the month, you are only billed for the net amount of kilowatt hours (kwh) you drew from the grid above the amount of kWh's you exported to the grid. This is why it is called net metering.
For example if your solar system sent 500 kWh of excess solar power to the grid during the middle of the day when you were at work, and your home drew 500 kWh from the grid at night when your solar panels weren't working during the same month, would receive a bill for 0 kWh, your net electricity usage.
However, the NV Energy net metering is not quite a full one for one payment and so it is more of a feed in tariff rather than net metering. However, it is still close to full one for one recognition and so at the moment, it is not much different to net metering.
What is the net metering policy for NV Energy?
NV Energy value your excess solar generation at 95% the retail rate, while not ideal this is still a pretty good incentive overall. NV Energy will be reducing the credit amount offered to solar customers as the installed solar capacity increases within their service territory.
|Applicable tier||Capacity||Credit rate||Credit Period|
|Tier 1||80MW solar capacity applied for||95% retail rate||20 years|
|Tier 2||80MW solar capacity applied for||88% retail rate||20 years|
|Tier 3||80MW solar capacity applied for||81% retail rate||20 years|
|Tier 4||All applied capacity after tier 3 expires||75% retail rate||20 years|
As at the time of writing, August 2018 there is only 15MW of capacity remaining on the top tier, to receive the top tier incentive for the next 20 years its best to install solar as soon as possible.
What is the dollar value of my excess solar generation?
|Billing zone||Credit rate|
How long does a solar system take to pay for itself in Las Vegas?
Solar systems in Las Vegas generally take about 7 years to pay for themselves in utility bill savings. To receive the shortest possible payback time it is best to install solar as soon as possible to get the highest feed in rate for your excess solar energy.
Where can I find the best solar installer in Las Vegas?
Our site has hundreds of reviews for Las Vegas solar installers. For a free solar savings estimate and to see how many solar panels your home needs use our free solar estimator. The solar estimator will give you an online estimate but also get live pricing for your home from the number of solar companies you select.
How much electricity do solar panels produce in Las Vegas?
For each 1kw of solar panels installed on a south facing roof in Las Vegas, you can expect to generate 1,570kwh per year.
|Size of System||Annual kilowatt hours (kwh's) of solar energy|
|4 kw solar system||6,278kWh|
|5kw solar system||7,847.5kWh|
|6kw solar system||9,417kWh|
|10kw solar system||15,695kWh|
For more information on how much power solar panels produce.
How many solar panels do I need to power my home in Las Vegas?
The average 2500 square foot home in Las Vegas uses approximately 12,815 kwh's of power per year. This means that the average home in Las Vegas requires a 8.17kW solar system to cover its power needs.
If we assume that we will be using 300 watt solar panels, then you will need approximately 27 solar panels to power your home. Of course, this will vary with the size of your home and the amount of power usage.
How many square feet of roof space do I need for solar panels?
If you enter your average NV Energy monthly power bill into the solar estimate solar panels square feet roof space calculator, it will show you how many solar panels you need and how many square feet of roof space you will need for these panels. (It will also show you current local solar deals being offered by some of the better solar companies in your area.
Are there ways I can reduce my electric bill without going solar?
Although solar is usually the most effective way for NV Energy customers to reduce their electric bill there are two other possible ways:
Swapping to the cheapest available NV Energy electric rates plan; or Reducing your energy usage through lifestyle changes or through buying more energy efficient alliances.