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Portfolio Energy Credits

Eligibility 
Agricultural
Commercial
Industrial
Institutional
Local Government
Nonprofit
Residential
Schools
State Government
Tribal Government
Utility
Savings Category 
Photovoltaics
Solar Water Heat
Program Info
Start Date 

2/23/2006

State 
Nevada
Program Type 
Performance-Based Incentive
Rebate Amount 

Varies; higher value for solar PECs than other technologies

Provider 
Public Utilities Commission of Nevada

Nevada's [http://www.dsireusa.org/library/includes/incentive2.cfm?Incentive_Code=N... Energy Portfolio Standard] requires the state's two investor-owned utilities, Nevada Power and Sierra Pacific Power, to derive or save a minimum percentage of the electricity they sell from renewable energy resources or energy efficiency measures. Included in the standard is a Portfolio Energy Credit (PEC) trading program.

Beginning January 1, 2003, Nevada's renewable energy producers can earn PECs, which can then be sold to utilities that are required to meet Nevada's portfolio standard. One PEC represents one kilowatt-hour of electricity generated, with the exception of photovoltaics, for which 2.4 PECs are credited for each kilowatt-hour generated. 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 PEC is market-driven. PECs issued to a renewable energy system owner by the PUCN are valid for four years.

Owners of PV, wind, or hydro systems installed through NV Energy's RenewableGenerations (rebate) Program do not retain the PECs associated with their electricity generation, and thus are not eligible to trade certificates through this program.