Adding solar panels and switching rate plans can lower your Nevada Energy electric bill
Updated: October 22, 2020Installing solar panels can help reduce your NV bill, thanks to Florida’s sunshine and the company’s net metering program! Combined with the 30% solar tax credit, KUA customers can see great savings when they switch to solar!
On this page:
Solar panel cost calculator
Are solar panels worth it for Nevada Energy customers?
Yes, with available battery storage rebates and the natural abundant sunshine present in Nevada, home solar panels can make a lot of sense for Nevada Energy customers. Nevada Energy’s net metering policy also ensures you at least get some credit on your power bill for the excess solar electricity your panels produce. Your credits, while accruing at a lower rate than you pay for electricity, are rolled over and applied to your next month’s bill.
Does Nevada Energy offer net metering credits for exported solar power?
No, Nevada Energy does not offer full 1 for 1 net metering. This means that when you export surplus power from your solar panels, you will be paid less by the utility than what you are charged to buy the equivalent amount of power from the grid.
The amount you are paid by the utility is known as a feed-in tariff. In the case of Nevada Energy, this feed-in rate is $0.07 per kWh.
Nevada Energy's long term net metering plan is to gradually reduce the value of credits paid to solar owners over time. What once was full 1-to-1 net metering is now at "Tier 4", or 75% of retail rate credit.
What incentives, tax credits, and rebates are available to NV customers for installing solar?
The biggest financial incentive for solar homeowners is the 30% federal solar tax credit. The tax credit equals 30% of the solar installation costs and directly reduces your federal income tax liability.
Some states and local governments offer additional solar incentives. These incentives include state tax credits, rebates, or performance-based incentives like Solar Renewable Energy Credits (SRECs). The best part is that these local incentives can be used in addition to the federal tax credit!
Here is every incentive you may be eligible for as a NV customer:
Table 1: Incentives
| Upfront Incentives | Value* |
|---|---|
| Residential Clean Energy Tax Credit (Federal) | -$5,311 |
|
Net Metering
(State)
Customers receive a certain percent of retail rate of power in return for their excess kWh sent to the grid. Separated into 80 MW blocks, each time a block is filled, the percent of retail rate you receive decreases |
Varies |
| Portfolio Energy Credits (State) | Varies |
|
NV Energy - Energy Storage Incentive Program
(Utility)
Incentive varies for customers on Time-of-use (TOU) and non-TOU rates. TOU customers earn $.19/Wh of storage, up to $3,000 or 50% of costs. Non-TOU customers earn $.095/Wh, up to $1,500 or 50% of costs. |
Varies |
| TOTAL | -$5,311 |
*Based on 7.27 kW system, average installation cost $17,705
How much does installing solar panels save the average Nevada Energy residential customer?
If you input the details for a NV customer with a power bill of $180 per month into the best online solar panels calculator, it tells you that you need a 7.27 kW solar system that will produce 12,992 kWh per year and that this system will return the owner a $39,430 profit after repaying the cost of the system.
The solar savings possible for you as a NV customer will depend on the amount of electricity you use and the cost of the solar system you buy. Savings also vary based on the direction of your roof or any shading of your roof that affects output.
Here is a monthly and lifetime solar savings estimate for the same relatively typical NV customer with a $180 per month electric bill prior to solar and who installs a 7.27 kW solar system.
How much do residential solar panels cost for NV customers?
Showing data for:
Prices based on a 8.4kW system, after 30% federal tax credit
Solar prices near you
Net profit (savings less system cost)
$20,697-$25,296
Payback period
7.4-9 years
Recommended size for the selected utility bill
8.4kW
Solar panel cost calculator
Detailed information about your estimate
Table 2: Estimate details
|
System Size (for 100% usage offset) 7.27 kW |
|
Annual Power Generation 12,992 kWh |
|
Pay-back time (assuming Cash purchase) 8.2 Years |
|
Internal Rate of Return (IRR) on Investment 8.7% |
|
Gross cost $17,705 |
|
Total Upfront Incentives and Rebates -$4,604 |
|
Net Cost of System after rebates and incentives $13,104 |
|
Total Cost of Utility Power Avoided over 25 years $52,534 |
Please note that the investment return figures do not include the possible increase in property value.
What are the environmental impacts of Nevada Energy customers installing solar panels?
While most homeowners decide to install solar panels because of financial savings over time, the environmental impacts of this choice are the primary motive for others. Here is a breakdown of the environmental benefits from a Nevada Energy customer installing a 7.27 kW solar system on their property:
A solar system generating 12,992 kWh per year will save you money AND make the world a nicer place
Saves you
$1,577
on average per year
Reduces CO2 emissions
6.43
tons per year
Equivalent to planting
45 trees
per year
Equivalent to driving
14,227 mi
less per year
CO2 emissions calculation based on the electricity generation and emissions data for your state in 2015 as published by the US Government Energy Information Administration.
What factors affect the price of solar panels for Nevada Energy customers?
The cost of installing solar panels will vary with brands of solar panels and inverters you choose and also the installation company you choose to install them.
It is common to see really good systems, using quality brands of equipment, being sold for around $2.44 per watt or $13,104 for a standard 7.27 kW solar system after the customer claims the 30% federal solar tax credit.