The Hoosier state of Indiana is blessed with large swaths of land and an abundance of sunshine. Both factors make it an ideal place for installing large-scale solar projects. On average, Indiana receives up to 5 hours of peak sunshine throughout the year. The southern part of the state receives slightly more sunshine. Indianapolis, the state’s capital, receives 6 peak sun hours during the hottest month of July.
According to calculations, 82% of rooftops in Indiana are viable for solar generation. If the true potential is tapped, it can result in 26.9 Million MWh of annual electricity production and a reduction in 22.3 Million metric tons of carbon dioxide emissions.
Following statistics reveal the state of solar in Indiana:
- Solar Installed (MW): 1,343.4
- National Ranking: 18th (32nd in 2020)
- Percentage of State’s Electricity from Solar: 0.83%
- Solar Jobs: 3,364
- Solar Companies in State: 78 (22 Manufacturers, 28 Installers/Developers, 28 Others)
- Total Solar Investment in State: 1.5 billion
- Prices have fallen 11% over the last 5 years
- Growth Projection and Ranking: 5,971 MW over the next 5 years (ranks 4th)
- Number Of Installations: 5,597
Indiana is yet to fully capitalize on its solar potential, however, the future for solar seems bright in Indiana. Policymakers are intent on taking full benefit of solar power in the next decade. According to SEIA, Indiana will triple its current solar capacity over the next five years whereas long-term projections indicate that Indiana will experience a thirtyfold growth in its solar generation.
To meet these goals, Indiana has introduced favorable net metering and interconnection policy, rebates, and incentives in the form of exemptions on property and sales taxes.
Solar Friendly Incentives and Rebates in Indiana
The following solar-friendly rebates and incentives have been introduced in Indiana:
Renewable Energy Property Tax Exemption
According to this regulation, all newly installed PV solar systems will not be taken into account when the tax on the owner’s property is calculated. This means that even though the solar system adds a lot of value to the property, this value will not be considered when the property is assessed for taxation. Hence, a solar system will not add to a property’s tax.
Sales Tax Exemption
Major components of a solar system such as PV modules, racks, and inverted are exempted from sales tax in Indiana. This significantly reduces the purchase cost of the system.
Federal Tax Benefits:
According to the Federal Investment Tax Credit, a 26% tax rebate can be claimed for solar systems that are installed before 2022.
Even though Indiana does not have a Renewable Portfolio Standard (RPS), it has the Comprehensive Hoosier Option to Incentive Cleaner Energy (CHOICE) instead. According to CHOICE, renewable energy’s share in the state’s energy mix should increase to 10% by the year 2025.
Need For Solar Panel Disposal Solution
The true potential of solar power in Indiana is far greater than its current status. Ambitious targets and solar-friendly legislation have placed Indiana on a path of becoming an energy-sufficient state very soon.
However, the rapid proliferation of photovoltaic technology also raises the alarming question about the decommissioning and disposal of end-of-life solar panels. Most experts agree that recycling old solar panels is the most cost-effective and eco-friendly waste disposal option for solar waste.
If you are looking for decommissioning or large-scale solar panel recycling solutions in Indiana, contact We Recycle Solar. We provide recycling solutions for solar panels, batteries, and other equipment. Our processes are safe, efficient, and compliant with all federal and state laws.
Looking for decommissioning or large-scale Indiana solar panel recycling solutions?
Unless otherwise noted, all data from SEIA/GTM Research U.S. Solar Market Insight