A Nevada Renewable Energy Transmission Access Advisory Committee (RETAAC) report has shown that Nevada has some of the richest renewable resources in the world, and is fortunate to have a full spectrum of renewable resources that include geothermal, solar, wind, and biomass. There are enough megawatts of renewable resources in Nevada to easily fulfill our renewable electricity needs and the needs of our surrounding states. Developing these resources can bring billions of dollars in investment capital to the state. They can diversify our economy, create thousands of high-paying jobs, and help protect our pristine high desert environment, while conserving water resources (RETAAC, 2009). Nye County has several renewable energy zones, believed to be the state's most economically viable areas.
Nevada is consistently ranked as one of the most business-friendly states in the US. Nevada enjoys more than 300 sunny days each year, is a geographic hub to the 11 Western states, and offers an outstanding tax climate that few states can match (Nevada Commission of Economic Development).
Business-Friendly Tax Structure:
Nevada Incentives/Policies for Renewables & Efficiency
Nevada has several tax reduction programs and offers renewable energy property and sales tax abatements to qualifying companies. Tax incentives include: Renewable Energy Systems Property Tax Exemption, Renewable Energy Producers Property Tax Abatement, and Renewable Energy Sales and Use Tax Abatement (Source: DSIRE).
- Renewable Energy Producers Property Tax Abatement:
Nevada businesses may apply to the Nevada State Office of Energy for a property tax abatement of up to 55% for up to 20 years for real and personal property used to generate electricity from renewable energy resources including: solar, wind, biomass, fuel cells, geothermal or hydro. Generation facilities must have a capacity of at least 10 megawatts (MW). Facilities that use solar energy to generate at least 25,840,000 British thermal units (BTU) of process heat per hour can also qualify for abatement (Source: DSIRE).
For more detailed information on this Nevada property tax incentive, visit the Nevada State Office of Energy website.
Nye County Development Information
For businesses interested in locating in Nye County, some useful information has been compiled, including:
Home | Renewable Energy | Doing Business | Transmission | Workforce | Useful Info | Contact Us