The Silver State is investing significant political capital on green energy by opening new markets in Nevada, sending a strong message that renewables continue to be a key priority for the state.
A trio of new laws passed in the last legislative session and approved by Gov. Brian Sandoval are expected to provide a boost to renewable energy development in the state by freeing up new capacity from retiring plants, updating renewable energy credit requirements and restructuring tax abatements for local areas.
For the Nevada Governor’s Office of Energy, the new laws represent the next step in the state’s continuing efforts to build a robust renewable ecosystem.“These (new laws) just keep the ball rolling and moving forward in terms of energy policy,” said Stacey Crowley, energy office director. “They address distributed generation and, to some extent, transmission. It’s a way for us to keep focus and make sure we continue to refine and improve our energy policy.”
The laws are being called a welcome “lifeline” by some in the industry, which was facing a short-term struggle for new projects as NV Energy comfortably meets its renewable portfolio standard requirements.
At the same time, they also are causing concerns about higher utility rates as renewables are used to replace conventional sources of energy that are cheaper in today’s market.
The debate between developing more homegrown energy and keeping rates as low as possible is expected to be an ongoing discussion in the next few years while the state tries to strike a fine balance between both as it fine-tunes its energy policy.
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