2023 Solar Incentives Guide for Spring Creek, NV - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Spring Creek.
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.
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Updated May 04, 2023
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What Solar Tax Credits, Incentives, and Rebates are Available in Spring Creek?
Southwest Gas Corporation - Residential Energy Efficiency Rebate Program
Solar Water Heating: $13/therm
Southwest Gas Corporation - Smarter Greener Better Solar Water Heating Program
NV Energy - Clean Energy Incentive Program
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
NV Energy - Solar Thermal Heating Program
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
Solar incentives are designed to encourage homeowners to switch to renewable energy by offering incentives that lower the financial burden of solar panel installation and use. Different kinds of incentives, such as cash back, discounts or credit towards your monthly utility bill, might be available to you. Some incentives may be handled by the state of Nevada, by your utility company or by county or municipality, while other incentives are federal. Some solar incentives you might qualify for are:
- Tax Credits: Unlike tax deductions, tax credits are dollar-for-dollar reductions in the amount of income tax that you owe the federal government.
- Net Metering: Make sure you speak to your Spring Creek utility company about signing a net metering contract. This allows you to get a credit towards your utility bill every month for the value of excess energy generated by your solar panels. You could receive either a dollar-for-dollar credit or a percentage of the value.
- Tax Exemptions: Sales tax exemptions are applied at the point of sale for your solar panels. Property tax exemptions let you ignore the value added by your solar system when you calculate how much property tax you need to pay.
- Rebates: A rebate is a partial refund given after you've purchased your solar panels. These may be offered by your local utility company, your county or your state. The cash back that you get from the rebates is normally applied before calculating tax credits.
Federal Solar Incentives
Federal solar incentives are likely the first thing that you think of when you think about solar incentives. It's likely that you've heard of the Federal Solar Investment Tax Credit, or ITC. This incentive is a tax credit equal to a specified percentage of the money you spend on solar panels for your home.
The ITC applies to the value of a solar system installed on your primary or secondary residence in the United States. The solar system has to have been installed on a property you own after January 1, 2006 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 covered amount has fluctuated over the last few years between 26-30%. The amount you qualify for will depend on when your solar system was installed. There is no cap on the claim amount.
Contacting your local Spring Creek solar panel installation expert is the best way to learn more about how the ITC may apply to you.
In August 2022, the ITC (now called the Clean Energy Credit) was expanded and extended by the passage of the Inflation Reduction Act. The Clean Energy Credit lasts until 2035. Solar installation projects started after January 1, 2022 and completed by the end of 2032 may qualify for a 30% tax credit. The amount will decrease slightly on a yearly basis until the end of the current program. Starting in 2023, the program expansion will also make credits for energy storage systems even easier to claim.
Click here to learn more about the new Inflation Reduction Act. Your local Spring Creek solar panel installation experts can answer your questions and explain how the new Clean Energy Credit applies to you.
State & Local Solar Incentives
Federal solar incentives are not your only option; tax credits, rebates and more might also be offered at the local or state level. These solar incentives — which might be provided by your county or municipality, or by the state of Nevada — may be offered on an ongoing basis, or for only a limited time.
Next Steps for Installing Solar in Spring Creek
Solar incentives might be provided by your local utility company, the federal government or the Nevada government. The large number of solar incentives available has facilitated the nationwide growth of solar energy use in the last 15 years. If you're ready to switch over to solar energy, talking to your local Spring Creek solar panel installation expert is a great first step.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Spring Creek, NV Solar Incentives FAQs
I already have solar panels. Are there any incentives that I qualify for?
If your solar system was installed after January 1, 2022, you may qualify for the recently increased 30% tax credit under the Inflation Reduction Act. If you had your system installed between 2006 and 2021, you may qualify for a tax credit between 26% and 30%, depending on the date of installation. Talking to the company that installed your system, or any local Spring Creek solar installer, can help you learn what incentives you qualify for.
What are the best solar panel installation companies near me?
To find the right solar panel installer for you, check out our guide to the top solar companies in Spring Creek.
What are some environmental benefits of adding solar panels to my house?
Solar energy is a renewable energy source — by changing where you get your energy, you help reduce the strain on our planet's resources. Solar panels can also reduce the CO2 emissions from your home by 300 pounds yearly, or around 6,000 pounds in 20 years.
How long until the federal solar tax credit ends?
The federal solar tax credit, formerly known as the ITC and now named the Clean Energy Credit, is set to end January 1, 2035. The current 30% credit will end in 2032, replaced by a 26% credit in 2033 and a 22% credit in 2034.
If I switch my appliances out for ones that can use solar energy, are there any incentives that I can claim?
The recently passed Inflation Reduction Act introduces several incentives designed to reward homeowners who make eco-friendly upgrades. Some of these incentives include tax credits and rebates for installing new electric appliances. You can find more details about these incentives here.
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.