Nevada Solar Information

Pros and Cons of Buying Solar Panels in Nevada

Pros:

• +

  Relatively short payback period

  The solar payback period is the time it takes a homeowner to pay off their initial investment on the solar power system through electricity savings. Some of the factors that play a role in a shorter payback period are lower solar costs, high electricity prices, or robust solar programs and incentives. Nationwide, the average solar payback period is just under 8 years. As of today, the typical payback period for Nevada ranges from seven and a half to ten years.
• +

  After the payback period, solar power is nearly free

  Once you paid for your solar energy system completely, you will not only have access to free electricity but also can potentially make a profit by selling it.
• +

  Great savings on a monthly electric bill

  Once your solar power system starts degenerating electricity, you can expect to save around $100 on your monthly utility bill. What it means is that you become less dependent on your local utility company and their utility rates, which are highly influenced by inflation. Over the course of 20 years, you can anticipate saving around $35,000 in Nevada.
• +

  Helping the environment since solar energy is clean, sustainable, and renewable

  Sunlight is plentiful almost anywhere on the planet and is ready to be gathered without any harm to the environment. Solar energy is truly clean, renewable, and sustainable power source, besides it can save you a lot of money. It is well known that using solar energy instead of fossil fuels decreases our carbon footprint by reducing air and water contamination.
• +

  Support from the government and the state

  When buying a solar power system, Nevada residents can enjoy significant savings of 30% tax credit thanks to the Federal Investment Tax Credit program. Furthermore, a great Net Metering program and cash rebates make the cost of going solar so much more affordable.
• +

  Very low maintenance

  None of the solar panels on the market has any moving parts so essentially, there is no wear and tear with their operation. Due to this, solar panels are also completely silent when working. The only maintenance that they need is the occasional cleaning to keep them free of dirt and debris.
• +

  Excellent warranty protection

  The majority of the solar panels today come with two kinds of warranties: performance guarantee and extended product warranty. An extended product guarantee ensures any repairs of defective equipment or breakage. The 25-year-long performance warranty guarantees efficient energy production for at least 25 years.
• +

  Increase in the property value

  Recently, studies by multiple real estate companies showed that installing solar panels on the roof of your house undeniably adds value to the property. On average, adding a solar energy system will raise your house value by 4.1%. Moreover, not only houses with solar installations sell at higher prices but they also sell faster than houses without solar systems.

Cons:

• -

  The possible high initial cost

  When you decide to go solar, you not only have to purchase solar panels, you also have to pay for all the solar equipment and accessories, and the installation of the system. This can make your expenses somewhat high. Nevertheless, with the availability of federal and state credit programs, local utility incentives and rebates, the initial price can go down significantly. In addition, going solar will start saving you money on your electric bill from day one.
• -

  Must have a large, open area for installation

  The installation of an average size solar panel system of 5kW requires about 500 sq. feet of open space on the roof. That area has to be free of any shade from trees or other buildings for the solar system to work properly. At times, this situation becomes problematic for some homeowners. Luckily, you can also install the solar panels on the ground, provided they do have direct access to sunlight.
• -

  Must be a property owner to install

  Unfortunately, today, PV system installations are mostly available to homeowners with good credit and good income. The solar benefits are not yet available to renters, people with low-income, or people without a job.

Is It Worth Going Solar in Nevada?

If you are still wondering whether getting solar in Nevada is a smart decision, the answer is yes. Nevada’s climate with so many sunny days a year makes for almost ideal conditions for solar adoption. When combined with the Federal Tax credit, cash incentives, and the lowest solar prices in years, the solar power installation can ensure clean and affordable energy solutions for many years to come.