Solar Power: Smarter Energy
Talk of renewable energy can be heard all around the United States and even across the world. The reality is that today, more and more consumers are switching over to more eco-friendly and more cost effective methods to power their everyday lives. This is especially the case when it comes to Solar Energy. There are many reasons why Solar Energy is quickly taking over, primarily being that renewable energy is good for the environment, but what you may not know is what a difference equipping your home or business with solar panels can do for your wallet.
The great thing about going solar in states like Nevada, is one, we have enough sun to make the switch a no-brainer, and two, thanks to solar access laws, your right to own solar panels are protected! That means that no contract, homeowners association or other legal document may prohibit you from installing solar panels!
So what are some of the benefits of going solar? Well, when you go solar, you are eligible to earn tax credits and rebates as an incentives for switching over. NV Energy will pay up to $0.15/watt up front to its ratepayers when they go solar. Like all incentives though, this decrease as more units are installed, so there is more incentives to do this sooner, rather than later.
Take net metering into consideration as well. Net metering gives credits to solar homeowners for the electricity that their solar panels generate. This means that any excess energy that your panels create, will be credited to you by your respective utility, either NV Energy or Valley Electric Association.
While these incentives to cut back on the cost are great, in addition to that there is also the Federal Investment Tax Credit (ITC). The ITC allows you to claim 30 percent of your solar equipment and installation costs on your federal taxes, which means more savings for you.