2023 Solar Incentives Guide for Cold Springs, NV - Tax Credits & Rebates

In this guide, we'll cover the latest solar incentives and rebates available in Cold Springs.

You'll learn about:

  • Local & State Solar Incentives
  • Federal Tax Credits (Updated for 2023 and beyond)
  • Ways to optimize your solar investment

Solar installers are experts in maximizing your solar tax credits and rebates.
Get a free quote from one of our trusted Cold Springs solar installers to see how much you can save.

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

What Solar Tax Credits, Incentives, and Rebates are Available in Cold Springs?

Southwest Gas Corporation - Residential Energy Efficiency Rebate Program

Incentive Type:
Rebate Program
Water Heating: $225
Solar Water Heating: $13/therm

Southwest Gas Corporation - Smarter Greener Better Solar Water Heating Program

Incentive Type:
Rebate Program
Varies based on program "step" - see program website.

NV Energy - Clean Energy Incentive Program

Incentive Type:
Rebate Program
Solar (As of 9/24/18):
Residential/Commercial/Industrial (25 kW or smaller): $0.20 / watt-AC
Low Income/Nonprofit/Public Entity (25 kW or smaller): $0.45 / watt-AC
Residential/Commercial/Industrial (greater than 25 kW): $0.0250 / kWh
Low Income/Nonprofit/Public Entity (greater than 25 kW): $0.0550 / kWh

Wind (As of 9/24/18):
Residential/Commercial/Industrial: $0.40 / watt-AC
Low Income/Nonprofit/Public Entity: $0.80 / watt-AC

Portfolio Energy Credits

Incentive Type:
Performance-Based Incentive
Varies; higher value for solar PECs than other technologies

NV Energy - Solar Thermal Heating Program

Incentive Type:
Rebate Program
Northern Nevada electric customers: $3,000/project up to 50% of system cost

Federal Residential Renewable Energy Tax Credit

Incentive Type:
Personal Tax Credit
30% federal tax credit for systems placed in service after 12/31/2021 and before 01/01/2033. Good for: solar water heat, solar photovoltaics, biomass, geothermal heat pumps, wind (small), fuel cells using renewable fuels.

Source: https://www.dsireusa.org/


The phrase "solar incentives" generally refers to financial incentives that are in place to encourage the adoption and use renewable energy by making solar panels more affordable. You may qualify for several types of incentives, such as discounts, cash back or monthly utility bill credits, depending on your situation. Certain incentives come from your specific utility company, county or municipality, some from the Nevada government and others from the federal government. Some broad categories of solar incentives include:

  • Net Metering: You can sign a net metering contract with your Cold Springs utility company, that may apply to all or a percentage of the excess electricity your solar panels generate. They will then subtract this value from your monthly utility bill.
  • Tax Exemptions: Your solar panels could qualify for exemptions on both sales and property tax. Sales tax exemptions are applied at the time of purchase. Property tax exemptions let you exclude the value added by your solar panels when you are calculating property taxes on your house.
  • Tax Credits: Tax credits are dollar-for-dollar reductions in the amount of income tax that you owe the federal government. (This is different from a tax deduction.)
  • Rebates: A rebate is a partial refund credited to your account after you've paid for your solar system. These might be offered by your local utility company, your county or your state. The discount that rebates offer is normally applied to the price of solar panels before tax credits are calculated.

Federal Solar Incentives

Federal incentives are the type of incentives that you are most likely to have some knowledge of. You may have heard of the Federal Solar Investment Tax Credit, or ITC. This incentive is a tax credit equal to a certain percentage of the money you spend on your solar system.

The ITC applies to a solar system installed on your primary or secondary residence in the United States. The solar panels must have been installed after January 1, 2006 on a property you own for you to be eligible for the credit. The ITC initially covered 30% of all system installation costs (panels, equipment, accessories and labor), although the total amount has fluctuated over the years between 26-30%. The installation date of your solar system will determine what percentage you are eligible for. There is no cap on the claim amount.

Your local Cold Springs solar panel installer can offer more information about the ITC and how it applies to your situation.

The Inflation Reduction Act, passed in August 2022, expanded and extended the ITC (as well as retitling it the Clean Energy Credit). Now, solar installation projects begun after January 1, 2022 and finished by December 31, 2032 can qualify for a 30% tax credit. The amount of the credit will then see a slight annual decrease until the end of the current Clean Energy Credit in 2035. The expansion to the program also makes it easier to get credit for energy storage systems, beginning in 2023.

Click here to learn more about the new Inflation Reduction Act. The easiest way to fully understand how the new Clean Energy Credit will apply to you is to reach out to your local Cold Springs solar panel company with your questions.

State & Local Solar Incentives

Rebates, tax credits and more can be provided at multiple levels. Along with federal solar incentives, there are often state and local ones as well. These solar incentives — which may be provided by the state of Nevada, or by your county or municipality — may be offered for only a limited time, or on an ongoing basis.

Next Steps for Installing Solar in Cold Springs

Solar incentives can be provided by your local utlity company, the Nevada government or the federal government. The growing number of incentives available has helped nationwide use of solar energy increase greatly in the last 15 years. If you're ready to make the switch to solar energy, calling your local Cold Springs solar panel installation expert is a great first step.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

EcoWatch's Cold Springs, NV Solar Incentives FAQs

Can I get any financial incentives when I add solar panels to a vacation home, rental property or commercial property?

Many solar incentives are intended to apply to a property located within the United States that you own; most secondary residences will fall under this distinction. Other solar incentives may be available for commercial properties, depending on the details. We recommend getting in touch with your local solar installer and/or tax professional to better understand what incentives may apply to your specific situation.

How can I find out if I qualify for different solar incentives?

It's a good idea to talk to your local Cold Springs solar installer to get an understanding of which incentives your project may qualify for. Typically, solar incentives apply to new solar systems installed on property you own (in the U.S.) within a specified date range. Some incentives, like those provided by the Nevada government, might have additional requirements.

If I already have a solar system installed on my house, can I still claim incentives?

Your best bet is to talk to someone from the company that installed your system — or call a local Cold Springs solar installer — to clarify which incentives you may qualify for. If your system was installed after January 1, 2022, you likely qualify for the newly increased 30% tax credit under the Inflation Reduction Act. Solar panels installed between 2006 and 2021 may qualify for a tax credit of 26-30%.

I want to switch my appliances out for ones that are more energy-efficient. Are there any credits I can claim?

The new Inflation Reduction Act creates a variety of new financial incentives for making eco-friendly improvements to your home. More details on these incentives, including information about incentives for purchasing new appliances, can be found here.

Can I use both solar and another type of renewable energy to power my home?

Yes, you can utilize multiple types of renewable energy to power your home — for example, a combination of solar and wind power. You can also combine renewable energy generation with a backup source of non-renewable energy. Be sure to discuss your plan with your local Cold Springs solar panel installer, so that you understand what you'll need and what types of incentives you may or may not qualify for.

Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.

Solar incentive research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.

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