Going solar in Indiana has several benefits, including:
Reduced electricity bills: Solar panels produce electricity from sunlight, reducing the amount of electricity you need to purchase from your utility company. This can lead to lower electricity bills.
Increased home value: Solar panels are considered an investment in your home, which can increase its resale value. Homes with solar panels tend to sell faster and at a higher price than those without.
Environmental benefits: Solar energy is a clean and renewable energy source, reducing your carbon footprint and helping to combat climate change.
In Indiana, net metering is available for residential solar customers. Net metering allows customers to receive credits on their utility bill for excess electricity their solar panels generate and feed back into the grid. The credits can then be used to offset the cost of electricity when the solar panels are not producing enough power to meet the home's needs. The state's net metering policy allows customers to receive credits for up to 100% of the electricity they generate.
Indiana also offers several incentives and rebates for going solar, including:
Federal tax credits: The federal government offers a tax credit of 26% of the cost of solar installation, which can significantly reduce the upfront cost.
Solar easement laws: Indiana has laws that protect homeowners' right to install solar panels on their property and ensure that they receive adequate sunlight.
Property tax exemptions: Solar panel installations are exempt from property tax in Indiana.
Utility rebates: Some utilities in Indiana offer rebates for installing solar panels, such as Duke Energy and Indianapolis Power & Light.
Indiana offers several rebates and incentives to promote the adoption of solar energy. Some of the notable ones include:
Residential Renewable Energy Tax Credit: Indiana offers a tax credit of up to $1,000 for homeowners who install a qualified solar panel system.
Sales Tax Exemption: The state offers a sales tax exemption for residential solar energy systems.
Net Metering: Indiana has a net metering policy, which allows homeowners to receive credit for excess energy they produce and feed back to the grid.
Property Tax Exemption: Indiana offers a property tax exemption for residential solar panel systems, which means the value of the system is not included in the property tax assessment.
Renewable Energy Production Incentive: This incentive provides a payment of $0.03 per kilowatt-hour for the first ten years of operation for eligible renewable energy systems, including solar energy systems.
These incentives can help reduce the upfront costs of installing a solar panel system and provide ongoing financial benefits to homeowners who generate their own renewable energy.