Nevada has plenty of sunshine – why not harness that energy to power your home or business through all hours of the day? With a solar-plus-storage system, you can do just that! And thanks to declining costs, federal tax credits, and utility incentives, Nevadans are savings more on battery purchases than ever before.
The best way to compare your solar options and save money at the same time is by registering on the EnergySage Marketplace. When you compare quotes for solar panels on EnergySage's competitive solar marketplace, you can expect to see prices up to 20% lower than working with a single solar company. Read our updated article on the cost of solar panels to compare solar costs across states and by panel brand.
What storage incentives are available in Nevada?
Unfortunately, Nevada does not currently offer any statewide energy storage incentives. However, NV Energy, the state’s largest utility company, has an advantageous battery incentive program for its customers who pair a battery with a solar panel system.
NV Energy storage incentive program
NV Energy offers an upfront storage incentive of up to $3,000 for homeowners who add a battery to their solar panel system.
The value of the incentive depends on the size of your battery and whether you’re on a TOU-rate; residential customers on a TOU rate plan can receive $190 per kilowatt-hour (kWh) of storage capacity, up to the lesser of either 50 percent of equipment costs or $3,000. On the other hand, residential customers on other rate plans receive a slightly lower incentive value of $0.095 per kWh, up to the lesser of either 50 percent of equipment costs or $1,500.
NV Energy’s non-residential customers are also eligible for a storage incentive when installing either standalone storage systems or solar-plus-storage systems. Like NV Energy’s residential offering, these incentive values depend on the size of the battery, but also vary based on ITC eligibility, whether it’s a for-profit or non-profit commercial account, and whether the battery is connected to an on-site renewable energy system. You can learn more about the commercial storage incentive program on NV Energy’s website.
Nevada tax benefits for energy storage
Installing a solar-plus-storage system in NV? If so, you can save thousands on your taxes with the federal investment tax credit (ITC).
The federal investment tax credit (ITC)
With the federal investment tax credit (ITC), you can claim up to 30 percent of the cost of your solar battery as a credit towards your federal taxes. For most homeowners, the ITC can help decrease the cost of a battery by an additional $3,000 to $4,000.
Importantly, standalone storage is not currently eligible for this credit – but it will be starting in 2023 thanks to the Inflation Reduction Act! To claim this incentive for the remainder of 2022, you need to charge your battery with an on-site renewable energy source (like rooftop solar). If you have a residential solar panel system and you charge your battery with electricity from the grid, you cannot take advantage of this credit right now.
