Build a sustainable future in the Silver State by investing in solar

Why should Nevada homebuilders offer solar on newly constructed homes?

With 95% solar-viable roofs, 13% of the state's energy comes from solar power systems in Nevada.^*Google Project Sunroof. Accessed April 26, 2022. https://sunroof.withgoogle.com/data-explorer/place/ChIJcbTe-KEKmYARs5X8qooDR88/  The Solar Energy Industry Association (SEIA) ranks the state 5th in its growth projections for the next five years.^*SEIA. Solar Industry Research Data. Acccessed April 26, 2022. https://www.seia.org/solar-industry-research-data In Nevada, residential and commercial buildings powered by the sun's energy enjoy an increase in value that those without rooftop solar installations do not.

In recent years, homes or offices using non-renewable energy have been selling much more slowly than those with solar power systems. Environmental awareness among consumers has increased the market value of solar-powered homes in Nevada. Solar for Nevada homebuilders comes with several advantages, including:

• Higher home value

• Smaller carbon footprints

• Valuable incentives

• High investment returns

• Cost savings

Why would consumers want to buy new homes with solar panels?

Tapping into solar for Nevada homebuilders is affordable because residential solar installations cost about $2.60/kW (kilowatt). The renewable power business in Nevada does not look like it will slow down anytime soon, especially with the average threshold for solar power systems being 1,369 kWh/kW.^*Google Project Sunroof. Accessed April 26, 2022. https://sunroof.withgoogle.com/data-explorer/place/ChIJcbTe-KEKmYARs5X8qooDR88/

The average solar payback time for new construction dropped to only eight to nine years. With recent cost reductions in solar system installation and the introduction of generous, new buy-back schemes, buying a solar-powered home will remain a top priority for most homeowners.

Do financial incentives exist for builders who use renewable energy?

According to a 2022 report from the Intergovernmental Panel on Climate Change (IPCC), the cost of generating solar power has dropped a dramatic 85% since 2010, making it one of the most lucrative deals available. With more than $9 million in solar power construction incentives in 2018 alone, Nevada has provided a total of over $200 million in incentives since 2010.^*Cassie Morien, Nevada: A Guide to Residential Solar Energy. Modernize. March 27, 2019. https://modernize.com/homeowner-resources/solar/nevada-guide-residential-solar-energy

Homeowners can benefit from over 80 solar power incentives if they have a solar-powered house.^*Cassie Morien, Nevada: A Guide to Residential Solar Energy. Modernize. March 27, 2019. https://modernize.com/homeowner-resources/solar/nevada-guide-residential-solar-energy Developers can use these incentives as a selling point once the homes are built. Discover the incentives available for procuring a rooftop solar system below.

How much does solar cost in Nevada?

The cost of a home solar system can vary, even in the same state, due to a range of factors. These include the:

• Quality of the solar system

• Household's energy needs

• Local weather

• Available roof space

To help you understand the price of going solar in your area, we've analyzed SunPower price quotes, as well as quotes gathered by third-party sources, for thousands of homeowners across the country.

In Nevada, we found that the cost of owning a 5 kW solar system ranges from $12,550 to $37,800, or in other words, from $2.51 to $7.56 per watt. And that's before considering the benefits of any available tax credits or incentives.

Federal Solar Investment Tax Credit (ITC)

By purchasing and installing a photovoltaic system in Nevada before December 31, 2022, you can qualify for a federal Investment Tax Credit (ITC) that lowers costs by about 30%. If an average 5 kW system costs approximately $13,690, the federal tax credit would reduce it to just $9,583.

Nevada net metering

Owners of solar-powered homes can cash in on excess solar power energy that their systems generate. Through a net metering system in which solar panel systems connect to a public utility power grid, homeowners can sell their surplus electricity at 95% of the retail rate.^*Jeff Brady. Solar Firms Plan To Return To Nevada After New Law Restores Incentives. June 7, 2017.https://www.npr.org/sections/thetwo-way/2017/06/07/531952407/solar-firms-plan-to-return-to-nevada-after-new-law-restores-incentives

What's the best way to add solar to new single-family homes in Nevada?

In the long run, the benefits of incorporating sustainable solar energy into single-family homes outweigh the cost of purchase and installation. Deciding on the best solar-powered technology for a single-family home requires consideration of the following:

• Type of solar cell

• Solar panel system design

• Size and capacity

• Pricing

With an average of 252 sunny days per year in Nevada,^*Best Places. Nevada. Accessed September 13, 2023 https://www.bestplaces.net/climate/state/nevada the state has become one of the country's leaders in solar energy utilization. Renewable energy in Nevada already accounts for 33% of the total electricity the state produces. Invest in high-quality solar for Nevada home builders today.

Solar Power for Homebuilders

Start working with our seasoned solar solutions professionals today, learn more about SunPower's solar power solutions for homebuilders. Chat with one of our customer service representatives to learn more about solar for Nevada home builders.