Benefits of Solar Energy
Solar energy comes with multiple benefits. Let's look at a few of them.
- Lower utility costs: Generating some or all of your own power will spend less on electricity long-term. Plus, some states offer net metering programs that allow you to sell your surplus energy back to the grid, generating extra credits toward your energy bill.
- Reduced carbon footprint: Solar is the universe's most abundant clean energy source, meaning you can minimize or conquer your home's dependence on "traditional" sources.
- Better energy independence: Solar panel systems can keep your home running through blackouts and emergencies, giving you additional security. You can use your solar energy anytime with an optional battery storage system.
What Solar Incentives Are Available to Las Vegas Homeowners?
Nevada agencies and electric companies offer a range of solar incentives to help reduce your solar system costs. Below is a breakdown of applicable solar programs where you live.
Incentive Type: Rebate Program
Website: swgas.comIncentive Amount:
Water Heating: $225
Solar Water Heating: $13/therm
Incentive Type: Rebate Program
Website: swgas.comIncentive Amount:
Varies based on program "step" - see program website.
Incentive Type: Rebate Program
Website: Nvenergy.comIncentive Amount:
Solar (As of 9/24/18):
Residential/Commercial/Industrial (25 kW or smaller): $0.20 / watt-AC
Low Income/Nonprofit/Public Entity (25 kW or smaller): $0.45 / watt-AC
Residential/Commercial/Industrial (greater than 25 kW): $0.0250 / kWh
Low Income/Nonprofit/Public Entity (greater than 25 kW): $0.0550 / kWh
Wind (As of 9/24/18):
Residential/Commercial/Industrial: $0.40 / watt-AC
Low Income/Nonprofit/Public Entity: $0.80 / watt-AC
Incentive Type: Performance-Based Incentive
Website: nvtrec.comIncentive Amount:
Varies; higher value for solar PECs than other technologies
Incentive Type: Personal Tax Credit
Website: ecowatch.comIncentive Amount:
30% federal tax credit for systems placed in service after 12/31/2021 and before 01/01/2033. Good for: solar water heat, solar photovoltaics, biomass, geothermal heat pumps, wind (small), fuel cells using renewable fuels.
How To Choose the Best Solar Company in Las Vegas
The more comprehensive your company investigation is, the better your photovoltaic system will ultimately function. Make your choice based on the following vital factors.
Licensing and Training
Nevada requires a contractor installing a solar PV system to obtain a C-37 license from the Nevada State Contractors Board. Solar pool or water heating installers should carry either a C-1 (plumbing and heating) license or the appropriate C-37 subclassification for their work. Check for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), among the solar industry's most reputed trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Las Vegas
The style of solar panels you choose determines how much electricity you can generate. Monocrystalline panels and high-quality and cost more but give you the best performance. Polycrystalline panels work with a tried-and-true mechanism and cost less, but produce less power. Thin-film panels aren't meant for large home installations, but they're excellent for small projects like sheds and RVs.
Additional system add-ons, such as electric vehicle (EV) chargers and battery storage, will raise your overall installation costs. However, they might make your solar system more efficient and convenient to use. Not all solar contractors provide these extras, so look for a contractor that installs them if it's essential for you.
Generally speaking, it costs about $15,400 for a five-kilowatt solar array in Las Vegas. This table lists more specific costs for different solar panel types and system components in your area.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,168 |
Solar Polycrystalline | $911 |
Thin-Film | $532 |
Solar Battery | $747 |
Solar Home EV Charger | $2,802 |
Financing Solar Energy in Las Vegas
There are many ways to pay for a new solar system, and the right one will lower your costs. A few of the most common options include power purchase agreements (PPAs), leases, cash payments, and loans. We advise paying with cash or securing a solar loan for the highest return on investment (ROI). Cash payments require a hefty sum up-front, but you’ll pay the least long-term by avoiding interest. You’ll also own your system and can apply for solar panel incentives to reduce your total costs. Solar loans are another good option if you don’t want to make a big initial investment. You can pay for your system in monthly installments while still enjoying energy bill savings and solar incentives. However, you’ll spend more in total due to accruing interest. Solar leases allow you to pay a monthly fee to rent your panels, while a power purchase agreement lets you pay a variable rate based on only the energy you use. We generally advise against these options since you will not have ownership of your system and are disqualified from solar incentives, but they might be appropriate in certain circumstances. Look for companies that offer multiple payment plans to find the right fit for your pocket.
The table below lists the average payback periods for different capacities of solar systems in Las Vegas.
You are eligible for a 26% federal solar tax credit for new solar energy equipment until the year 2032. Municipal and state governments and utility companies might also offer discounts, rebates, and specialized financing options that could save you more.
Solar System Capacity | Estimated Payback period |
---|---|
1 kW | 2.0 years |
2 kW | 4.1 years |
5 kW | 10.2 years |
10 kW | 20.3 years |
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Frequently Asked Questions About Solar in Las Vegas
How much energy and money could I save per year by switching to solar?
How common is solar energy in Las Vegas?
Should I expect a property value increase after adopting solar power?
How can I assess my site's solar viability?
How many years will a typical solar system last?
How do I care for my new solar system?
How can I maximize my solar system's performance?
- optimize the panels' position with your solar installer
- regularly clean your solar panels
- upgrade to a more efficient inverter trim or cut down trees in the way of your panels
- use energy-efficient appliances
How are a solar lease and PPA different?
You don't own the panels with either option, though you can choose to opt out of the contract for a fee.
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