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The sales tax incentive states that the equipment used to produce renewable electricity are eligible for a sales tax exemption. The state of Indiana also implemented a voluntary Clean Energy Portfolio Standard (CPS) in May 2011. The CPS set a goal for the state to have 10% of its electric generation come from clean energy by 2025. [27]
Solar power in Indiana has been growing in recent years due to new technological improvements and a variety of regulatory actions and financial incentives, particularly a 30% federal tax credit for any size project. [1] In 2015, Indiana ranked 18th among U.S. states for installed solar power with 136 MW of photovoltaic panels. [2]
Indiana: Renewable Energy Property Tax Exemption (Property) ... Property Tax Exemption for Solar and Renewable Energy Equipment ... 15% of base year (2007) sales by 2025:
Indiana scored 15.88 out of a total 100 points in the study that used electricity costs, installation costs, potential solar energy, existing solar capacity and solar polices to grade each state.
Invenergy began gathering leases for farm ground in Washington Township in 2020, prior to its application for tax abatement in the fall of 2021 to build a solar field stretching from north of ...
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2007 sources of Indiana's revenue. Taxes in Indiana are almost entirely authorized at the state level, although the revenue is used to fund both local and state level government. The state of Indiana's income comes from four primary tax areas. Most state level income is from a sales tax of 7% and a flat state income tax of 3.05%. The state also ...
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