Net metering is a program where NV Energy customers can use excess energy to offset their power bills. When your renewable energy system isn’t producing any electricity at night or on cloudy days, NV will provide you with electricity. When your system generates more electricity than your home consumes daily, that extra power will go to the grid.
NV Energy has undergone several modifications to its net metering policy. In the past, the Public Utilities Commission of Nevada (PUCN) ratified new practices that would decrease the value of metered credits for NV Energy customers. Credits for new net metering plans will be worth 75% of the retail rate of electricity.
Where is NV Energy’s service area?
NV Energy offers net metering services in its jurisdictions, Northern Nevada and Southern Nevada. Each has its rate schedule and has written billing instructions for each area.
How much does NV Energy charge for net metering?
NV Energy customers are qualified for a modified net metering program. The program pays each kilowatt-hour (kWh) excess electricity customers send back to the grid. The credit is worth slightly less than the rate customers pay for their electricity from NV Energy and is calculated as a percentage of the retail rate.
NV Energy customers are guaranteed to receive the same rate for 20 years. If you enroll within a year of starting your service, you’ll receive the current net metering rate at 75% of the retail rate. Credit rates with higher percentages are no longer available to new customers.
NV Energy customers can participate in a standard or Time of Use rate schedule in the Nevada region. Participants in the TOU plan are billed at different rates on different days and times. In peak hours, like during the day, rates go up. At off-peak hours, like during the night, rates go down. You can compare the two regions and see which rate schedule will work best.
What is NV Energy’s net metering cap?
Nevada used to have a net metering cap of 235MW. But as of August 2015, NV Energy has no net metering cap.
Is NV Energy’s net metering the best in the state?
The Public Utilities Commission of Nevada only oversees Sierra Pacific Power Company and Nevada Power Company’s operations. These two companies are owned by NV Energy. At this time, NV Energy has the only net metering program in Nevada. However, they have a large and established program for all their customers.
What will happen to my net metering bill credits?
If your solar system produces more power than you’re using every month, NV Energy will credit your next bill for any excess energy you deliver back to the grid.
How about other solar incentives?
NV Energy offers several incentives for customers to switch to renewable energy. If you install solar panels, solar water heaters, wind power systems, or hydropower systems for your home, you could qualify for an installation subsidy. Nevada also has other solar power incentives, like solar access rights, which protect your right to install and generate electricity with solar panels. The federal solar tax credit is another incentive that reduces your PV cost by 30 percent. You can learn more about the solar tax credit here.
Solar interconnection policies by NV Energy
Customers who qualify for net metering at the utility are categorized into two groups: incentivized and non-incentivized. Those who have been incentivized are qualified for a rebate through the Renewable Generations program if they install renewable energy sources and work with a licensed contractor. The Nevada Legislature established the Renewable Generations Program to encourage the growth of renewable energy in the state. If incentivized, you can receive a rebate of up to $13,500 for residents and $67,500 for small businesses. These rebates significantly shorten the system payback time.
It’s easy enough for everyone to sign up, even if you are a non-incentive customer. All customers must fill out an application, include their signature, and then send it to the company for review. Once your paperwork is complete, NV Energy will inspect the installation site, switch on the two-way meter for incentivized installations only, and connect to the power grid.
DroneQuote is your solar fiduciary
If you’ve been thinking about going solar for your home, go to DroneQuote and request quotes. Net metering can relieve the high cost of electricity, and the best part is that solar is less expensive than electricity. Furthermore, DroneQuote is a great option for homeowners who want to learn more about solar but don’t want to sit through multiple sales presentations.
Our solar experts will design a system that meets your requirements, walk you through different installer quotes, and answer all your questions from the comfort of your home. Contact us today!