Portfolio Energy Credits
Administered by Public Utilities Commission of Nevada
If you own an eligible renewable energy system in Nevada, you can earn Portfolio Energy Credits (PCs) for the electricity you generate—one PC per kilowatt-hour, with certain systems earning multipliers (for example, customer-maintained distributed systems get a small adder). To participate, you register your system with the Public Utilities Commission of Nevada (PUCN) using a simple application form on their website, and you can then sell your credits at market-driven prices. Note that if your PV, wind, or hydro system was installed through NV Energy's RenewableGenerations rebate program, you do not retain the PCs and cannot trade them.
This program lets customers earn tradable Portfolio Energy Credits for electricity generated by qualifying renewable systems, adding an ongoing value stream beyond upfront rebates—an incentive you can highlight when selling installations. Be aware that customers who use NV Energy's RenewableGenerations rebate program forfeit their PCs, so there is a tradeoff to discuss; most other net-metered system owners retain their credits unless they agree otherwise in writing with the utility. Systems must be registered with the PUCN to earn and trade credits.
The Portfolio Energy Credit trading program supports Nevada's Energy Portfolio Standard, allowing NV Energy to meet its renewable and efficiency obligations by acquiring PCs from generators. Each PC equals one kWh generated, subject to multipliers (e.g., 2.4 for pre-2016 customer-sited PV, a 0.05 distributed customer-maintained adder, 1.05 for efficiency resources or 2.0 during peak load, 0.7 for eligible waste tire facilities, and a 3,412 Btu-to-kWh conversion for solar thermal). PC values are market-driven; participants register systems with the PUCN, and the program spans a broad range of sectors and technologies, with tracking handled through NVTREC.
Program details
- Program ID
- 1036
- Effective
- 2/23/2006
- Last updated
- 11/26/2024
Eligibility
- Sectors
- commercial industrial investor-owned utility local government nonprofit municipal utilities residential cooperative utilities schools state government federal government tribal government agricultural institutional
- Technologies
- solar - passive solar water heat solar space heat geothermal electric solar thermal electric solar thermal process heat solar photovoltaics wind (all) biomass hydroelectric municipal solid waste landfill gas solar pool heating wind (small) anaerobic digestion yes; specific technologies not identified
Program summary
Beginning January 1, 2003, Nevada's renewable energy producers can earn PCs, which can then be sold to utilities that are required to meet Nevada's portfolio standard. One PC represents one kilowatt-hour (kWh) of electricity generated, with the exception of the multipliers described below. Each kWh generated by a photovoltaic (PV) system installed on the premises of a retail customer on or before December 31, 2015 will be credited with 2.4 PCs. This multiplier will end for new solar systems installed after that date, but will continue for existing net metered solar PV systems. Customer-maintained distributed renewable energy systems receive a 0.05 adder for each kilowatt-hour generated. For example, a distributed PV system that is also customer-maintained would be credited 2.45 for each kilowatt-hour generated. Energy efficiency resources receive a multiplier of 1.05, and a multiplier of 2.0 if they save electricity during periods of peak utility load. Solar thermal energy systems are credited with 1 kilowatt-hour of electricity for each 3,412 British thermal units of heat generated. Finally, each kilowatt-hour of electricity generated by eligible waste tire facilities is credited at 0.7. In order to participate, owners of renewable energy systems must contact the Public Utilities Commission of Nevada (PUCN) to register their system. A very simple application form is available on the PUCN web site. The value of a PC is market-driven.
Owners of PV, wind, or hydro systems installed through NV Energy's RenewableGenerations (rebate) Program do not retain the PCs associated with their electricity generation, and thus are not eligible to trade certificates through this program. Owners of all other net metered systems retain the PCs unless stipulated in writing with the utility.
Contact & resources
- Additional resources
Please verify current program details with the administering agency before making any financial decisions.
