2024 Solar Incentives Guide for Summerlin South, NV - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Summerlin South.
You'll learn about:
- Local & State Solar Incentives
- Federal Tax Credits (Updated for 2024 and beyond)
- Ways to optimize your solar investment
Solar installers are experts in maximizing your solar tax credits and rebates.
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What Solar Tax Credits, Incentives, and Rebates are Available in Summerlin South?
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
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
Solar incentives are designed to mitigate the cost of installing solar panels on your home. Financial incentives like these are designed to encourage more homeowners to convert their home partially or fully to renewable energy. You may qualify for several kinds of incentives, including cash back, discounts or credit towards your monthly utility bill, 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. Types of solar incentives might include:
- Tax Exemptions: Your solar system might qualify for exemptions on both sales and property tax. Sales tax exemptions come into effect at the time of purchase. Property tax exemptions let you exclude the value that solar panels add when calculating property taxes on your house.
- Net Metering: Net metering factors in after your solar panels are up and running. If you've signed a net metering agreement with your Summerlin South utility company, the company will subtract the value of the excess energy your solar system produces from your utility bill each month. In some areas, this credit is dollar-for-dollar, while in others you may be refunded a percentage of the value.
- Tax Credits: Tax credits reduce, dollar-for-dollar, the total amount of tax you owe the government. These are different from tax deductions.
- Rebates: Rebates, or partial refunds after a purchase, are normally given before any solar tax credits are calculated. Solar rebates can be offered by your local utility company, by your county or by your state.
Best National Provider
SunPower
- 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
- 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
Federal Solar Incentives
Federal incentives are the type of incentives that you are most likely to have some familiarity with. You may have heard of the Federal Solar Investment Tax Credit, or ITC. The ITC is a tax credit that reduces your taxes by a certain percentage of the money you spend on solar panels for your home.
The ITC can be applied 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 claim the credit. The ITC initially covered 30% of all installation costs (panels, equipment, accessories and labor), although the total amount has fluctuated over the last few 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.
Contacting your local Summerlin South solar panel installer is the best way to understand how the ITC applies to you.
The ITC has been renewed and expanded following the passage of the Inflation Reduction Act in August 2022. It's also now called the Clean Energy Credit. The new Clean Energy Credit is valid until 2035. American homeowners can now receive a 30% credit for solar systems that began installation after January 1, 2022, and are completed by the end of 2032. The credit will then see a slight annual decrease until the date of expiration. The expansion to the program also makes it easier to get credit for energy storage systems, starting in 2023.
Click here to learn more about the new Inflation Reduction Act. Your local Summerlin South solar panel installation expert is the best person to answer your questions about the new Clean Energy Credit and how it applies to you.
State & Local Solar Incentives
There are often also state solar incentives in addition to those provided by the federal government. Rebates, tax credits and more may be available at a more local level. These solar incentives — which might be handled by your county or municipality, or by the state of Nevada — could be offered on an ongoing basis, or for only a limited time.
Next Steps for Installing Solar in Summerlin South
You can apply for solar incentives from the federal government and the Nevada government, as well as from your local utility company. This increase in availability of solar initiatives over the last 15 years has helped increase nationwide solar energy use enormously. Your local Summerlin South solar panel installation company can provide you with more details about which incentives you should apply for, and get you feeling good about making the change to renewable energy today.
EcoWatch's Summerlin South, NV Solar Incentives FAQs
How do I learn if I qualify for certain solar incentives?
In most cases, solar incentives apply to:
- a new solar panel system
- installed on property you own
- within the U.S.
- between the dates specified by a particular incentive.
Specific incentives, including ones handled by the Nevada government or by your county/municipality, could have additional qualifications. Speak with your local Summerlin South solar installer to discover what incentives your project will qualify for.
What are the environmental benefits of switching to solar?
You can lower your carbon footprint by 500 pounds of CO2 annually by switching to solar panels. This adds up to approximately 10,000 pounds in 20 years. Solar is also a renewable energy source, meaning that switching your home over reduces the drain on our planet's resources.
I want to trade in my old appliances for ones that are more energy-efficient. Are there any benefits I can get?
The new Inflation Reduction Act creates a number of new financial incentives for making eco-friendly improvements to your home. More details regarding 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 use multiple types of renewable energy to power your home, such as a combination of wind and solar. You can also use both renewable energy sources and a backup source of non-renewable energy. Be sure to discuss your proposed plan with your local Summerlin South solar installation expert, to make sure you know what you'll need and what types of incentives you will or won't 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.