Wondering if solar panels are worth it in Nevada? In the vast majority of cases, they are. Keep reading to learn everything you need to know about solar in Nevada, including:
- Benefits of solar energy in Nevada
- How much you can save with solar
- Key incentives and tax credits available
- Factors that affect solar panel ROI in Nevada
- When solar might not be worth it
This guide will answer all your questions about solar panels in Nevada.
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Benefits of Solar Energy in Nevada
Thanks to ample sunshine in Nevada, solar energy is a great option for many homeowners, especially those interested in turning to renewable resources. Converting to solar energy provides benefits such as:
- High energy production. Solar panels produce more electricity when they have access to more sunlight hours. Some Nevada cities, including Las Vegas and Reno, are among the sunniest in the nation, making solar panels particularly effective.
- Lower energy costs. Solar panels reduce energy costs because you won’t need to get as much from your local power grid.
- Energy independence. Solar energy allows homes to have access to power even when the local power grid goes out.
How Much You Can Save With Solar
The exact amount you can save with solar is difficult to identify because several variable factors affect it, including:
- System size
- Energy usage
- Roof orientation
- Current utility rates
- Cost of the solar system
In most cases, homeowners break even after 7 years, not accounting for any increase in their home’s value. Over the course of 20 years, Nevada homeowners typically save over $20,000.
Key Incentives and Tax Credits Available
Now’s the best time to invest in solar panels, thanks to numerous incentives and tax credits available.
The Federal Solar Investment Tax Credit allows homeowners and businesses to claim up to 30% of the cost of their solar system as a tax credit until 2032. In 2033, the credit is reduced to 26%, and in 2034, it drops to 22% before phasing out completely. If you don’t have sufficient tax liability, you may be eligible for a power purchase agreement (PPA).
If you are interested in solar, but can’t make the significant initial investment, you may want to consider leasing a solar pool heating system to get the benefits at a lower upfront cost.
NV Energy also offers net metering, which allows you to sell unused generated electricity to power companies. This can reduce or eliminate your power bill. NV Energy allows you to continue saving these credits indefinitely for future bills.
Factors That Affect Solar Panel ROI in Nevada
Generally speaking, most people see a return on investment (ROI) within 8 to 10 years of installing solar panels. In some cases, that timeline can be shortened to about 5 years. How soon you see a return depends on factors such as:
- Roof condition and size. Larger roofs can support more solar panels, which can help increase overall return on investment. Your roof’s current condition also affects ROI, especially if you need to invest in repairs or a new roof before installing solar panels.
- Available sunlight and shade coverage. The amount of sunlight your solar panels have available determines how much electricity they can generate. More electricity generation typically translates to larger energy savings.
- Home energy consumption. If you consume less energy than your solar panels produce, you can often see a quicker ROI thanks to net metering.
- System size and quality of components. Larger panels can often produce more electricity. Likewise, high-quality components tend to be more efficient and can generate more power.
Installation company’s expertise. A good installation company knows how to optimize solar panel installation to get the best, quickest ROI.
When Solar Might Not Be Worth It
Sometimes, it doesn’t make as much sense to invest in solar. In particular, we caution homeowners to consider the following factors:
- Short-term ownership. If you plan to move soon, investing in solar now might not make sense. With how long it takes to see a return on investment, it doesn’t usually make sense to install solar panels if you don’t plan on living somewhere for more than five years.
- Heavy roof shading. If your roof is shaded by buildings or trees, solar panels may not be able to generate enough energy to be worthwhile.
- Poor roof condition. If your roof isn’t in the best condition, we don’t recommend installing solar panels now. Instead, handle a roof replacement or repairs first.
- Very low monthly usage. If you already don’t use much energy from month to month, you won’t see as much of a return from your solar panels.
See If Solar Is Right for Your Home — Start With a Free Quote
At Celestial Solar, we only install the best quality solar electric panels and solar pool heating systems. As the sole factory-authorized distributor in Southern California, Nevada, Arizona, and Florida for ISwim pool heating panels, as well as many solar electric panels and inverters, you can trust our team to find the best solar solutions for your home today.
