Here’s Why it’s a Smart Decision
You’ll Maximize Net Metering Benefits
Net metering in Las Vegas allows solar customers to receive credits on their NV Energy bill for the excess solar kilowatt hours they send back to the grid. With net metering, the energy you generate but don’t use in the cooler but still sunny months is “stored” as credits on your power bill. Those credits build up on your account during the cooler fall, winter, and spring months, so you have a bank of credits ready to offset your high electricity use in our scorching summers. Las Vegas enjoys sunshine almost year-round. Even in the fall and winter, your solar panels will continue to generate energy. Because of net metering, Fall is a great time to install solar panels, giving you more months to bank credits before the summer heat and your energy use soars.
How Does Solar Net Metering Work?
Whenever the sun shines, your solar panels make electricity. Those solar kilowatt hours come down from your roof to your main electric panel. Whatever appliance (or circuit) is on in your house, like your bedroom light, TV, or air conditioner, will use those kilowatt hours before power is drawn from the grid.
- If your solar panels produce more power than you need, the excess power is returned to NV Energy through your meter. They then sell it to your neighbors.
- If your home uses more power than is being made by your solar panels, the extra power you need is drawn in from the NV Energy grid to meet that demand.
At the end of every billing cycle, NV Energy takes the amount of power they sent you (KWHD) and subtracts the amount of power you sent them (KWHR). That’s right. What you send back to them wipes out what you use on a 1-for-1 basis. So, the power your solar makes during the day pays for the power you need at night.
- If you sent them MORE power than they sent you during the billing cycle, you get a credit on your power bill for 75% of the retail value for every surplus kilowatt hour (KWHA).
- If they sent you MORE power than you sent them during the billing cycle, you pay for that power using the net metering credits on your account or pay cash if you are out of credits (KWHN).
It works like “rollover minutes” used to work on cell phone plans before we all got unlimited plans. Like those rollover minutes, your net metering credits NEVER expire, and you can never cash them out. The credits sit on your account until you use them, and NV Energy automatically applies them. Most months after solar, you’ll only pay your basic connection charge plus $1 or $2 in taxes and fees.
Avoiding Summer Delays
- Summer is a busy time for solar installations in Las Vegas due to high demand. By opting for a fall or winter installation, you can avoid longer wait times and ensure your solar system is fully operational before installers get swamped with summer installations.
The Solar Tax Credit
- Solar installations are eligible for a federal tax credit of 30% of the system’s purchase price. Installing in the fall or winter ensures you can use this credit for the current tax year. The system must be “placed in service’ in the tax year you want to claim the credit. Waiting until December to install your system will push your “placed in service” date into the next tax year.
To Summarize
Installing solar panels in Las Vegas during the cooler fall and winter months positions you perfectly to capitalize on the region’s sunny climate and bank up plenty of net metering credits before the summer heat hits. You’ll also avoid summer delays and lock in the solar tax credit for the current tax year.
