LAS VEGAS (FOX5) — Federal residential solar tax credits expire on December 31, but a new Nevada program aims to keep solar installations affordable.
Federal tax incentives are ending after President Trump signed legislation into law this summer. As a response, the Nevada Clean Energy Fund has launched a new incentive program called Nevada Bright to help fill the gap.
Solar installations continue despite deadline pressure
Workers installed solar panels on a Henderson home in the Anthem neighborhood as part of ongoing installations across Southern Nevada. John Tutino with Sol-Up said his company completes seven to 10 installations daily.
“Most solar systems can offset up to 100% of the energy production that household can use. We find on average it’s usually at least 90%,” said William Pregman, senior program manager for Nevada Clean Energy Fund.
More than 144,000 Nevada homes now have solar panels, according to an industry report. As energy bills rise, families are seeking financial relief through solar installations.
Federal tax credits drive current demand
The current 30% federal tax credit has been a significant factor in solar adoption. Pregman said the credit covers almost a third of installation costs.
“The 30% tax credit, that’s almost a third of the cost of a solar installation, which on average can be anywhere from 20 to $30,000,” Pregman said.
The expiring credits create urgency for homeowners considering solar installations.
“The tax credits expiring make it harder to go solar for middle-income families throughout the state because it’s such a huge incentive, 30%,” Pregman said. “It often makes a huge difference in the affordability.”
Nevada Bright program offers alternative
The Nevada Clean Energy Fund’s Nevada Bright program is a solar lease option that allows households to benefit from federal solar tax credits even after the residential tax credit expires.
“Nevada Bright is managed by a nonprofit capital good fund who is taking the tax credit as a commercial purchase and are able to pass those savings along to a customer who enrolls in the program,” Pregman said.
The program aims to extend benefits and savings for residential households beyond the federal deadline.
“The reason that Nevada Bright exists is to extend those benefits and those savings for residential households into next year and beyond,” Pregman said.
Tutino said programs like Nevada Bright are necessary to maintain solar adoption rates.
“This is what is going to help drive solar and being a large contractor, Nevada, we need programs like that to keep it going strong and keep it enticing for people that do want to own,” Tutino said.
Homeowners interested in the Nevada Bright program must submit a non-binding letter of intent by next Friday. Sign-ups will be allowed after the deadline, but incentive rates may vary. Learn more here: Nevadacef.org/nevadabright
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