Five renewable energy companies received tax abatements from the Nevada Governor's Office of Energy in 2021. Under the Renewable Energy Tax Abatement (RETA) program, these five companies will invest an estimated $1.5 billion to Nevada’s economy through sales tax, property tax and payroll.
Nevada’s current renewable energy capacity is just under 5,000 megawatts (MW). And these five projects will add another 1,166 MW on top of the current capacity. In addition, an estimated 853 construction jobs and 29 permanent jobs will be created through these projects. Under Nevada Revised Statutes (NRS) Chapter 701A, abated companies must provide hourly wages that are at least 110% of the average stateside hourly wage for operational jobs and 175% above the statewide hourly wage for construction jobs.
The five companies approved for abatements in 2021 include:
- Dry Lake Solar (Clark County)
- Gemini Solar (Clark County)
- Citadel Solar (Storey County)
- North Valley Power Plant
- Boulder Flats Solar (Clark County)
In addition, two previously approved projects began construction in 2021: Fish Springs Solar and Yellow Pine Solar. So far in 2022, one additional project has been approved for abatements (Arrow Canyon Solar) and one new project has applied (Iron Point Solar).
“Our RETA program creates jobs, brings large economic investments into the state, and maximizes use of Nevada’s abundant renewable energy resources to help reach our renewable portfolio standard of 50 percent of power generation from renewable sources by 2030,” GOE Director David Bobzien said.