Net metering is a program that allows NV Energy customers in Nevada to receive credits on their electricity bills for the excess energy generated by their solar panels. This system enables you to offset your energy costs by feeding surplus electricity back into the grid.
How Does NV Energy’s Net Metering Work?
When your solar panels produce more electricity than your home consumes, the surplus energy is sent to the grid. NV Energy measures this excess and provides you with credits, which can be used to reduce future electricity bills. This process ensures that no energy is wasted and that you receive financial benefits for your solar investment.
Recent Updates to Net Metering Rates
As of early 2021, NV Energy’s net metering program compensates customers at 75% of the retail electricity rate for the excess energy they supply to the grid. This rate is part of a tiered system that has been adjusted over time. It’s important to note that these rates are subject to change, and staying informed about the latest updates is crucial for maximizing your savings.
Steps to Enroll in NV Energy’s Net Metering Program
- System Installation: Work with a certified contractor to design and install a solar energy system that meets NV Energy’s requirements.
- Application: Submit an application to NV Energy for approval to connect your system to the grid.
- Inspection: After installation, your system must pass a local jurisdiction inspection to ensure it complies with all safety and regulatory standards.
- Meter Installation: Once approved, NV Energy will install a bi-directional net meter to track the energy you consume and the excess energy you generate.
Why Act Now?
With the increasing adoption of solar energy, net metering rates and policies can change. By installing a solar system and enrolling in NV Energy’s net metering program now, you can lock in current rates and maximize your return on investment. Delaying may result in less favorable terms in the future.
For more detailed information, refer to NV Energy’s official resources: