Solar panel cost in Nevada

The average cost for an installed residential solar system in Nevada is currently $11,597 after claiming the 26% federal solar tax credit. This is $2.61 per watt.

Showing data for:

Prices based on a 5.4kW system, after 26% federal tax credit

Solar prices near you

Cost range of local prices

$8,992-$10,991

Net profit (savings less system cost)

$25,523-$31,195

Payback period

7.4-9.1 years

Recommended size for the selected utility bill

5.4kW

Chart 1: Distribution curve of NV residential solar cost 2020
$10K
SolarReviews average

Note: Prices after 26% Federal Solar Tax Credit

NV solar panel cost calculator

Cash flow graph based on cash purchase of a 5.4kW system

Nevada solar power overview

Nevada has had a rocky past with solar, but with the return of net metering, things may be heading in the right direction.

The state revised their renewable portfolio standard (RPS) to require utilities to derive 50% of their energy from renewable sources by 2030. While increasing the amount of energy that needs to be produced by renewables is a huge step forward, the revised RPS removed the state’s solar carve out. 

There is no longer a minimum percentage of energy that must be produced by solar systems. However, the ambitious goal of 50% renewable energy may lead utilities to creating new incentive programs.

Between net metering being reinstated and the federal tax credit, you have the potential for big savings if you act fast.

Are solar panels worth it in Nevada

Solar panels have fallen in price by more than 80% in the last ten years. In 2020 they also remain subsidized by the 26% federal tax credit and the net metering law, making them an excellent investment. They offer a return well above the long term average return from both the share market and also property investment.

Another way to look at this question is the levelized amount you will pay for each kWh of power you will use over the next 25 years with and without solar panels. As you can see below the savings are significant.

Levelized cost of solar energy
?
Levelized cost per kWh is the cost of the solar system divided by the total number of kWh produced by a solar system over it’s lifetime

5¢ /kWh

If you don't get solar

30¢ /kWh

(forecast avg Nevada electric rates over the next 25 years)

Nevada solar incentives & tax credits

Federal solar tax credit

The most significant incentive to install solar panels for homes and businesses in Nevada is the federal solar tax credit. At the end of 2020, the amount of the credit will decrease from 26% to 22% of the cost of the solar installation. 

Because home and business owners want to get the largest incentive amount possible, solar panel installation companies will likely be flooded with new projects before year’s end. In order to maximize your savings potential, the best time to go solar in Nevada is now.

Net metering

Net metering allows you to get credited at near retail rates by your utility company for the amount of solar energy you produce but aren’t able to use onsite. 

As of 2020, any kilowatt hour (kWh) of solar electricity you send back to the grid which you aren’t able to use will be credited at 75% of retail rates, currently about 7 cents/kWh. 

At the end of your 20-year contract, you'll be able to sign up for whatever program NV Energy offers (though by then, home energy storage will likely be so inexpensive that it will be easier to install a battery and use all the energy yourself).

Nevada Energy Storage Incentive

NV Energy offers two different home battery storage incentive rates, based on your enrollment in a rate structure which changes based on the time of day you use electricity (aka time-of-use, TOU)

For example, if you’re on a TOU plan and purchase one Tesla Powerwall, you’ll receive a $2,565 rebate!. If you’re not on a TOU plan, you can get a $1,283 incentive on that same Powerwall.

Table 2: Available incentive programs
Eligibility: Federal incentive
Type: Personal Tax Credit
Eligibility: Utility incentive
Type: Battery Rebate

Showing 1 - 2 of 5

Top 10 solar panel brands installed in Nevada in 2020

Average cost of solar panel installation in Nevada by system size

System size*
Cash purchase

(After tax credit)

Financed purchase

(After tax credit)

4kW $11,420 $12,219
5kW $13,690 $14,648
6kW $15,672 $16,769
7kW $18,095 $19,362
8kW $20,960 $22,427
9kW $22,779 $24,374
10kW $25,040 $26,793

Find city information in Nevada

 

Home solar basics

Is it better to lease or buy solar panels in Nevada

You will save most money by buying your solar system rather than leasing it. Read more about the pros and cons of leasing vs buying solar.

How long do solar panels last?

Minimum of 25 years but generally 30 or more

How do solar panels work on a home?

Solar panels power your house when they can but your home uses the utility company for power at other times. In 2020 "solar systems with battery storage" are becoming more popular. These are known as hybrid systems.

How do solar panels work?

Grid-tied solar system

Solar panels are mounted on your roof and wired together in groups called solar arrays. The power they generate flows into a solar inverter where the direct current (DC) electricity is converted into alternating current (AC) electricity that can be used by your home or exported to the electric grid.

Off-grid solar system

Off-grid solar power involves meeting all your energy needs from the power of the sun. There’s no utility to fall back on. This means the solar installation needs to power the home not just during the day, when the sun is shining, but after dark as well.

Read more about types of home solar systems.

Do solar panels require regular maintenance?

No, but cleaning them can improve power generation if they are dirty.

Will residential solar power system cost fall in Nevada in 2020?

Given this environment, and the effect of import tariffs placed on solar panels by the Trump administration during 2018, it is hard to see that solar power system prices in Nevada will fall during 2020.

Can you buy DIY Solar Panel Kits and install them yourself in Nevada?

Yes you can! In some cases, you can save $3,000 or more when you install solar yourself, even after receiving the federal tax credit. Despite the potential for savings, data from Lawrence Berkeley Labs shows that only about 3% of homeowners choose DIY solar. 

Reasons for this include:

  • The permitting and inspection process for the utility, the state, and municipalities can be quite complex.
  • The installation work is both dangerous and difficult, with electrical work having to be performed at heights.
  • Often times, solar electricity customers will be charged a premium for DIY installations, which can limit savings.
  • In some states, a solar system needs to be installed by a qualified solar contractor in order to take advantage of incentives. In Nevada, a qualified solar installer must have a PV installer license. Utilities and incentive programs may have additional requirements.

 

SolarReviews does not recommend DIY solar installations unless you have suitable skills. However, for those who do, SolarReviews published a comparison table displaying solar panel kit prices from the top 10 leading solar kit websites in the US.

Buy DIY solar panel kits online

Prices don’t include installation, permits or inspections

How much electricity do solar panel systems generate in Nevada?

Depending on the location, solar panels will generate different amounts of electricity.

A solar system that is installed on a south-facing 29-degree pitch roof Nevada will generate 1,471kWh of peak DC (direct current) capacity per year per 1kW in the Las Vegas area.

Enter your details into the solar panel calculator to see how your location, roof tilt, and roof direction impacts solar panel production.

What are the pros and cons of installing solar panels in Nevada?

The advantage of installing solar panels in Nevada is that there is excellent sun exposure, so your solar panels produce a lot more energy than they would in other states. 

High levels of solar irradiance coupled with net metering translates into huge savings on your electric bill. All of this, in addition to the federal tax credit, can cover a significant portion of your installation costs.

The disadvantage of installing solar panels in Nevada is that the state does not offer many incentives outside the battery rebate, meaning it's even more important to switch to solar now while the 26% federal tax credit is still available.

Enter your details to calculate the cost and savings you are likely to get from installing solar panels for your home.

What you can learn from our state solar panel calculator

This solar calculator requires you to input your address, utility company, your average monthly power spend - it tells you:

If you want to see all of the above but also see live pricing, the three best solar deals available in your city and get binding quotes from each of these solar companies then use this Nevada solar panels calculator. This calculator requires you to also input your name and contact details because most of our 200+ installer partners will only authorize the sharing of their live solar pricing where we have validated that you are a real homeowner with a home in their service area. We respect the privacy of your data and only share your contact details with the solar companies you ask us to get binding quotes from.

Please keep in mind that the best source of up-to-date information on incentives are the solar installers who specialize in your area.

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