Timing is everything, as the saying goes, and that certainly applies to act of purchasing a renewable energy system. There seems to be a constantly changing landscape of costs, rebates, incentives and supply that influence the final price of these systems. It would be great if we could gaze into a crystal ball to determine the precise moment of maximum benefit. The next best thing is to stay informed and that’s where this column can help.
The trick is to act like any self-respecting business, taking advantage of market forces, tax credits and other incentives to maximize shareholder return on investment. In this case, you and your family are the shareholders. Companies plan for the long term and that’s a strategy that certainly applies when it comes to investing in renewable energy.
We are in a unique time of transition. We understand the need for renewable energy and see the damage our traditional energy sources have wrought, but these facts have not yet been accurately reflected in the marketplace. After all, fossil-fuel industry lobbyists wield a lot of influence on Capitol Hill. Fortunately there are some programs to help offset the imbalance.
There’s a new solar energy rebate program available in Southern Nevada. NV Energy’s popular RenewableGenerations program has recently expanded to offer rebates for solar water heating systems. The program is limited to homeowners in Southern Nevada who are NV Energy customers and that use electric water heaters. A separate program will cover NV Energy customers in Northern Nevada.
The rebate provides up to 50% of the cost of the system, capped at $1,500. There is also a personal federal tax credit of 30% that can be applied to the post-rebate balance. Since heating water with electricity is a relatively expensive method, solar hot water systems can make a lot of sense. The program just started up in December and is structured to accommodate up to 300 rebates per year for the next two years. NV Energy is holding training workshops for contractors and they provide a list of contractors who’ve completed the training.
There are many factors that determine ultimate costs and savings but the bottom line is that we must transition away from fossil fuels eventually. Those who can afford to do so now will help build a more diverse economy for Nevada and contribute to cleaner air, reduced CO2 emissions and increased energy security for our country.
“We understand the need for renewable energy and see the damage our traditional energy sources have wrought, but these facts have not yet been accurately reflected in the marketplace. After all, fossil-fuel industry lobbyists wield a lot of influence on Capitol Hill.”
While several other countries have implemented solar hot water systems on a large scale, the U.S. lags significantly. That means we have a major opportunity that we’re just beginning to tap into. As the market matures, manufacturing costs may go down, but the incentives may do the same. That’s where that crystal ball would come in handy.
For example, a Green Living column from last February discussed a solar hot water rebate program for Southwest Gas customers. That program expired in November. The good news is that, according the Southwest Gas website, a new program will be starting this month. I can’t speak for the company, but I expect it will be similar to the one offered by NV Energy. As I mentioned, timing is everything.
It is a good time to take a look at the options for domestic solar water heating. My personal investment in solar energy has turned out to be one of the best decisions I ever made. Perhaps you can be a solar pioneer, an early adopter with vision who sees the path toward sustainability in Nevada.
Additional Resources:
Learn more about solar hot water systems:
- Solar Hot Water Basics, HomePower Magazine article
- Heat Your Water with the Sun, U.S. Dept. of Energy (PDF)
- SRCC – National rating standards for solar hot water systems
Video: Naomi Klein speaks about the precautionary principle and the increasingly
extreme and insane energy “solutions” of the fossil fuel industry.