3 Highly Impactful Benefits of Las Vegas Solar Installation
If you’ve been thinking about “going solar,” now is the perfect time, and Las Vegas is the perfect place. With an average of 294 sunny days per year, Vegas has plenty of sunlight hours to fuel a solar system. This, combined with low average solar installation costs and financial incentives, has made Las Vegas the number two state in the nation for solar energy.
Curious? Here’s a look at a few of the reasons why you should consider investing in Las Vegas solar installation this year.
Financial Incentives for Going Solar in 2023
Both the state of Nevada and the federal government are currently offering incentives to make the transition to solar more affordable. As a homeowner or business owner, these incentives can drastically lower the cost of installation and increase the speed of your return on investment.
Investment Tax Credit
The federal Residential Solar Energy Credit, also called the Investment Tax Credit, rewards homeowners who invest in solar installations. Under this program, you can claim a tax credit of 30% of the cost of your solar panel installation. For example, if your installation costs $10,000, you can get $3,000 back in tax credits.
Net Metering
Net metering allows homeowners who generate more solar energy than they use to feed the surplus back into the grid. In exchange, you can receive credits from the utility company. If you use NV Energy for your electricity, the company is required to roll unused credits each month for 75% of the retail rate.
By producing your own power, you lower your reliance on the power company’s grid, which in turn leads to fewer charges. Over time, the monthly savings accumulate, offsetting the initial cost of your solar setup.
Assuming you spend $10,000 on solar panels and save $100 per month on electricity, your investment will have paid for itself in a little over eight years. After that, the monthly savings are essentially extra money in your pocket. Since solar panels can last 25 to 30 years, it’s easy to see the long-term financial benefits.
Increased Property Value
Investing in Las Vegas solar installation can increase your property value. A study by Zillow found that on average, adding a solar energy system increases a home’s sale price by 4.1%. As buyers become more eco-conscious, properties with sustainable energy solutions become more attractive. When it’s time to sell your home, you may find that the added appeal of your solar system allows you to sell at a higher price.
Environmental Benefits
By choosing solar, you can make a direct impact on the planet. Traditional energy sources like fossil fuels emit a significant amount of greenhouse gas, which accelerates climate change. Since solar is a clean and sustainable energy source, making the switch allows you to reduce the gas emissions that contribute to global warming.
Conventional power plants also use huge amounts of water for cooling and other processes. By transitioning to solar, you can help conserve this vital resource. This is particularly important in places like Las Vegas, where droughts can be severe.
Trust Cooper Roofing & Solar for Your Las Vegas Solar Installation Needs
From financial benefits and long-term savings to larger environmental benefits, there are many reasons to consider going solar in Las Vegas. If you’re ready to make a move, keep in mind that the solar company you choose can make a big difference.
Cooper Roofing & Solar is a leading choice for all of your Las Vegas solar installation needs. We work with both new construction and retrofit systems and offer free estimates. Contact us today to get started.