Todd Verk, VP of Sales at GST Nevada, shares his thoughts on the benefits of net metering in Nevada.
The solar industry is booming on a global scale. The industry is set to generate $422 billion by 2022--10,000 times what the industry generated in 2007. And as of 2015, the industry brought in $86 billion which indicates a 24.2% compound annual growth rate (CAGR) over the next three years.
The exponential growth stems from a variety of factors. The world is heading down a greener path, and solar is simply the most efficient and cost-effective source of alternative energy, and the financial benefits of going solar are extremely attractive.
One of the most enticing financial benefits of solar is the net metering programs offered by utility companies. Net metering allows residents who have installed solar panel systems on their homes to sell the energy created by their systems back to the utility companies.
NV Energy of Nevada offers particularly generous net metering options, however the consumers of Nevada do not seem to be taking advantage of solar and its lucrative benefits, leaving some leaders in the Nevada solar industry perplexed.
Todd Verk, Vice President of Sales at GST Nevada, speaks on the matter, stating, "A few years back, NV Energy ended their policy of paying retail rates for energy buyback and raised billing rates to consumers. This caused many in the solar business to leave Nevada, but we at GST Nevada stayed and rode the waves with our customers providing them the attention and service they deserved, and thankfully NV Energy eventually brought back their net metering program in March of 2017, offering competitive pricing allowances. But unfortunately, the damage to the solar industry had already been done, and while NV Energy's net metering has come back in full force, the solar consumers have not."
Verk continues, noting that the situation is troubling because Nevada consumers were advocating for more financial benefits for solar but it seems that they are unaware that NV Energy's net metering is back and here to stay due to new Nevada legislation.
NV Energy is also struggling during this process as the utility company relies on electricity from residential solar panel systems to help reach their solar energy quota, which is why the new net metering program is more attractive than ever.
"I want to make Nevada residents aware of the incredible financial benefits of going solar, which is why GST Nevada welcomes all residential and commercial consumers to receive a solar analysis that demonstrates how solar can help them reach incredible savings on their electricity bills," says Verk. "And in addition to the net metering benefits consumers can enjoy, GST Nevada offers custom system designs based on the individual needs of every customer allowing them to pay as little as possible for their system without compromising quality or efficiency."