Is going solar with NV Energy worth it? Image source: Solar Builder Magazine
Despite having a rocky past with solar and net metering, Nevada has since redeemed itself. In fact, for the last few years, Nevada has been listed as one of the top 10 states for solar installations in the U.S.
Not only is Nevada a great solar state because of its abundant sunshine, but its largest electric utility company, NV Energy, offers a net metering program and solar battery rebate that help boost solar savings while supporting the adoption of clean energy generation.
In this article, we’ll break down everything NV Energy customers need to know about going solar with this utility and whether or not it’s worth it.
Does NV Energy offer net metering?
Yes, power company NV Energy offers net metering to Nevadans who choose to go solar or install another renewable energy generation system.
With net metering, solar homeowners can use the solar power their home generates to offset their electric costs. Any excess solar energy that is produced is then sold back to NV Energy.
How does NV Energy net metering work?
NV Energy does not purchase excess solar electricity at the full retail rate of electricity.
Instead, homeowners will get “excess energy credits” on their future electric bills that are worth 75% of the retail rate of electricity. So if the retail rate of electricity was $0.10 per kWh, NV Energy would give you $0.075 per kWh for the excess solar energy you sent to the grid.
NV Energy is an electric utility that nets their credits monthly. This means all of the solar energy you send to the grid monthly is netted against all of the energy NV Energy has sent to your home within a monthly billing period.
Here’s an example. Let’s say NV Energy provided you with 200 kWh of electricity in a month and you sent 250 kWh of solar energy back to the grid. That means you sent 50 kWh more to NV Energy than they provided to you. In turn, they will credit you for those 50 kWh at 75% of the retail rate of electricity.
For this example, we’ll say that excess solar energy is being valued at $0.075 per kWh. That means NV Energy will credit you $3.75 for the extra 50 kWh, which you can use to offset energy costs on your next electric bill.
Does NV Energy offer solar rebates and incentives?
Other than net metering, NV Energy does not offer solar panel rebates or incentives.
However, they do offer a solar storage rebate, with a budget of $3 million. The NV Energy energy storage rebate has a tiered rate structure, so the sooner you apply, the higher the incentive amount will be. The incentive rate will also be higher if you choose to use a time-of-use (TOU) rate plan.
Learn more: What are time-of-use rates, and when is electricity cheapest?
The energy storage incentive is currently in Step 2. The incentive rates are as follows:
| Step | Time-of-use rate | Maximum amount | Non time-of-use rate | Maximum amount |
|---|---|---|---|---|
| 2 | $0.19/watt hour | 50% of equipment costs up to $3,000 | $0.095 per watt hour installed | 50% of equipment costs up to $1,500 |
| 3 | $0.16/watt hour | 50% of equipment costs up to $3,000 | $0.08 per watt hour installed | 50% of equipment costs up to $1,500 |
How much will this save you on a solar battery installation? Let’s break it down. Say you’re an NV Energy customer using time-of-use rates, and you’re looking to install battery storage. You would receive $0.19 per watt hour of battery storage installed, which would come out to $1,900 for a 10 kWh battery.
The total incentive amount cannot exceed 50% of the equipment costs, and cannot exceed $3,000.
Does NV Energy have a community solar program?
NV Energy does not currently have a community solar program, however, there is one in the works.
In late 2020, the utility announced that they had been approved to build their first community solar project: the Mojave High School Solar Project. Qualifying NV Energy customers could participate in the Expanded Solar Access Program to use the energy produced by this system. The solar energy would cost less than standard electricity, thus lowering electricity bills.
The Expanded Solar Access Program is closed as of January 2023.
Solar interconnection with NV Energy
Solar applications can be submitted to NV Energy, Inc through their PowerClerk application portal. The application is usually submitted by your installer.
There is an application fee of $130; some solar installers pay this fee, while others do not, so it is important to discuss this with them.
NV Energy will then complete a document review. Required documents include:
- Contract
- Site plan
- Technical diagram
- ESD data specifications
- Final inspection card and/or Satisfied Building Permit
- Interconnection agreement
NV Energy will then conduct a final net metering verification inspection before the system becomes operational.
Is going solar with NV Energy worth it?
Yes, going solar with NV Energy is worth it.
Although the energy company doesn’t offer full-retail net metering, their net metering program can still provide homeowners with substantial savings on their power bills. Plus, their energy storage rebate allows homeowners to cut costs on solar batteries and increase their energy independence.
To get the best quality installation at the lowest price in NV Energy’s service territory, consider getting quotes from multiple local solar installers.
Key takeaways
- NV Energy offers net metering for homeowners who want to switch to solar.
- NV Energy credits excess net solar generation at 75% of the retail rate of electricity.
- NV Energy has a solar storage rebate incentive with incentive rates ranging from $0.095 per watt-hour to $0.19 per watt-hour, depending on when you apply and what rate structure you use.
- There is currently no community solar program in NV Energy’s territory, but the utility is starting plans for a community solar project.
- Your solar installer will help you with NV Energy’s solar interconnection process.
Jen Merithew
Written Content Manager
Catherine is the Written Content Manager at SolarReviews, where she has been at the forefront of researching and reporting on the solar industry since 2019.