Based on today’s rates, NV Energy credits 75% of your net surplus. This is calculated at the end of each billing cycle.1
For example, let’s say at the end of the month, you sent NV Energy 500 kWh, but you also took 300 kWh from them. This would give you a net surplus of 200 kWh. You would then multiply that amount by NV Energy’s current rates. Let’s say it’s .12/kWh. (200 x .12 = $24). You will be banking 75% of that amount, which equates to $18. That $18 credit will roll over from month to month until you need it. These credits don’t expire.
Although NV Energy takes 25%, this does not equate to such a loss for your entire year. This is because the 25% loss is only applied to the net value of excess power you send them at the end of the billing cycle. Remember that you will always use the power that your system generates first, which is always a 1:1. It’s the excess power you don’t use immediately that is sent to the grid.
Summertime in Las Vegas is expected to always be a deficit because we use more power than the system generates. Given this, you will use all the power your system generates during these months, which ends up being 1:1. This is why we have credits that carry over from those off-peak months.
The whole year equates to roughly a 5% loss instead of a 25% loss.
If you want to make sure you get the minimum bill from NV Energy each month, consider adding a few extra panels. This will not only help eliminate the 5% loss but also give you the ability to use your energy more freely. Depending on how many extra panels you get, you can drop the temperature of your AC a bit more during those hot summer months. Or you can take care of charging for that new electric vehicle you ordered. Maybe you plan on putting it in a pool, so you will want to put up some extra panels to take care of the energy the pool pump uses.
NV Energy requires us to build only 100% of your current energy needs. It is standard to receive solar quotes that build only up to that amount. However, if you want that extra buffer to help you with the credit loss or extra additions to the home, we can easily get past that rule with an Electrical Engineering letter. Aside from the cost, there is no additional work on your part since it’s all processed on our end.
Ask for a free quote today.
