LAS VEGAS (KTNV) — A new Nevada Clean Energy Fund program is offering homeowners a final opportunity to secure significant solar savings before federal tax incentives expire at the end of the year.
But you have to act fast, if you're interested.
Watch: Local homeowner takes advantage of solar savings
The Nevada BRIGHT program allows homeowners to extend federal tax credit benefits into the new year while cutting 15% to 25% off solar system costs.
The deadline to enroll is by the end of the day, Dec. 12.
"The point of that program is to allow homeowners in Nevada to extend the benefits of the tax credit into the new year," said Will Pregman, senior loan officer with the Nevada Clean Energy Fund.
The Nevada Bright sign-up process is free and non-binding, allowing homeowners to change their minds if needed.
Essentially, the enrollment is a "Letter of Intent" that the website form guides interested people through.
Here's how Nevada BRIGHT works:
A solar array is installed and owned by BRIGHT for six years, then transfers ownership to the homeowner. During this period, homeowners prepay through a loan, securing the substantial cost reduction.
The program represents one of the last opportunities to secure significant solar savings before federal incentives change.
"It would allow the bulk purchase of equipment for the solar, which we have to do before the end of the year," Pregman said.
The program comes after a year full of hurdles to the local solar industry.
The 30% Biden-era federal tax credit is ending nine years earlier than originally planned, and a $156 million EPA "Solar for All" program for low-income Nevada residents was terminated.
NV Energy has also implemented new daily demand charges that will increase monthly bills for solar customers.
In Southern Nevada, the sun might always be here, but these savings won't.
