The Nevada Solar Incentive That Most Overlook
Incentives are a large reason why solar is an affordable option in Nevada. Most of these, however, are dependent on the solar policy of the state and local utility company.
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Solar Panels in Nevada
Nevada’s past solar policy has helped ensure solar customers are treated fairly. These new policies have made obtaining solar in Nevada a no-brainer.
Nevada Solar Policy
Nevada has a renewable portfolio standard. This standard requires utilities to produce 25 percent renewable energy by 2025. Of this generation at least 6 percent needs to come from solar energy.
If utilities don’t comply with these standards, they have to pay a fine. This charge encourages utilities to pay for customer solar generation and energy credits.
Nevada Net Metering
NV Energy is the main utility in Nevada, and Nevada is a regulated utility market. To encourage their customers to go green they now offer a set 20-year net metering return rate. This pays customers a set rate for the next 20 years. You would have to have the same meter for the entire time. Once you are in a certain net metering return tier, you will be grandfathered into it, even once the state has moved on to a reduced tier-ing structure.
They will also pay for their solar customer’s renewable energy credits. They pay customers differently depending on the size of the array that is installed. Large commercial arrays are paid up-front or for their production over the course of 5 years.
Residential solar customers are offered a set price per watt. As of 2016, the last time it was updated on their website, the rate was $4.53 per watt for systems under 25 kilowatts.
Nevada Solar Power Incentives
Since Nevada has been deemed a conducive climate for solar, it is a good time to look at well-known incentives. There are two types of incentives of which Nevada citizens should be aware.
These include state and federal renewable energy compensation programs. Incentives between these two cover a large portion of the array costs.
The federal solar incentive also known as the ITC pays up to 30 percent of a solar installation. This is done through tax credits that are put toward the taxes you would have otherwise owed. You, however, need to have taxable income in order to claim this credit. (You can still be retired and have taxable income).
Although this incentive is diminishing, it currently is 30 percent. This means that until 2020 you can get 30 percent of your array paid for by the government.
Nevada State Solar Incentives
In Nevada, solar customers have a variety of state solar incentives. The first is the portfolio energy credit program.
This program credits solar generators for each kilowatt hour. However, individuals that have opted for NV Energy’s solar incentive can’t participate. This is because NV Energy’s incentive program gives ownership of your energy credits to NV Energy.
The state also offers a revolving loan program. This loan is at 3 percent interest over 15 years. The catch is that the loan has to be between $100,000 and $1,000,000. This means that this loan is not a likely option for a residential installation.
The last state incentive is the 100 percent property tax exemption. When you purchase solar for your home it increases your property value. This tax exemption covers the increase in property taxes that occur as a result. For more information on the kinds of savings residential solar in Nevada can earn for you, see our Nevada solar savings calculator link.
These incentives alone provide ample reason to get solar. That is why many forget that solar companies have incentives, too.
The Nevada Solar Incentive You Didn’t Think About
Many solar companies also offer an incentive for solar customers. They do this in the form of referral payment.
Solar companies know that word of mouth is far more effective than advertising, and less annoying than cold calls. This is why many solar companies offer incentives to their customers for referring their friends and family.
Savings potential from a referral is dependent on the prospect. If you got enough people to purchase solar, you could have your array completely paid for. You just have to continue letting your friends know about what a great deal solar is.
Nevada Solar Programs
There are a couple of things to look out for when you determine which solar company to recommend to your friends and family. First and foremost, you need to make sure you are actually referring to a company you trust.
Secondly, you need to take a look at what the company is willing to offer you in exchange for your referral. Not all Nevada solar companies are equal. Their incentives can be just as important as their product quality and services.
What to Look for in a Solar Referral Program
Most companies have some sort of referral program. You need to look at the quality of product you’re referring, the reward and the qualifications. After measuring these you can determine if the solar referral program is worth it.
What Solar Installer Incentives Offer in Reno
Finding a good solar referral program is harder than you think. Just because the company is well known doesn’t mean they have the best incentives. Here are a couple of Reno’s solar installation companies and the rewards they offer for their referral programs.
Solar City/Tesla Referral Program
Tesla acquired Solar City in 2016. Tesla and Solar City both used to have their own solar referral programs.
When the companies were combined, the Tesla referral program was used. However, as of February 2, 2019, the combined referral program no longer exists.
Referral Program for Sun Power
SunPower has a referral app so you can monitor your referrals and see their progress. Referrals sent to SunPower count when they meet three conditions. These include a legit candidate for solar, schedule and keep their appointment. For each qualified appointment the SunPower customer receives $100 dollars.
Peterson Dean Referral Program
PetersonDean offers $250 for every referral that has purchased solar from them. Although you do need to be a current customer you can refer either online or through their referral app.
The Sun Works Referral Program
Sun Works has a referral app called power pay. Sun Works pays $1,000 for every referral that ends up purchasing solar. You need to have bought solar from them in order to get the referral credit.
The Referral Program for Simple Power Solar
Although simple power may have a referral program there is nothing on their website. This stands to reason that either they aren’t focusing on their referral program or it doesn’t exist. In either case, it seems that this is probably not the best company for a quality referral program.
Go Solar Group Nevada Solar Incentive
Go Solar Group’s incentive program stands out because it rewards everyone. Unlike other referral programs, we reward you for referrals regardless of whether you’re a customer.
To receive the incentive your referral needs to be eligible for solar and purchase a system. There is no limit to how many referrals you can give, making the world your oyster.
As long as they purchase within a year from the time you referred them, you will get the money. This is why it is best if you talk to the people that you want to refer before hand and gauge how interested they are.
Sun Share Club: Customer Referrals
We know finding a good solar company is quite the process. That is why we give rewards for your hard work. Go Solar Group rewards you for sharing your great find with your friends and family.
The first referral that a Go Solar Group customer gives, that results in a purchase, is awarded $1,000 dollars. For each subsequent qualified referral, you will be awarded $500 dollars.
Sun Split Club: Non-customer Referrals
Unfortunately, solar isn’t the best fit for everyone. Everyone wants solar, but not everybody qualifies for it. There are several factors that go into qualifying for this great product. It may not be the right fit for you, but you can still get rewarded for sharing your research with those whom you care about.
All Go Solar Group qualified non-customer referrals can