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.
In 2015, Indiana ranked 18th among U.S. states for installed solar power with 136 MW of photovoltaic panels. An estimated 18% of electricity in Indiana could be provided by rooftop solar panels.
In 2011, Indiana's largest solar installation was the six acre array located on the roof of the Maj. Gen. Emmett J. Bean Federal Center in Lawrence, Indiana, capable of generating a peak power of over 2 MW. A 17.5MW plant built at the Indianapolis airport in 2013 was the largest airport solar farm in the U.S. A 9MW solar farm was built at the Indianapolis Motor Speedway in 2014. The 3.2MW Rockville Solar II is the largest solar roof installation in the state.
When you install a solar system, 26% of your project expenses apply toward a credit to offset any taxes you owe that year. This federal tax credit is a major incentive to go solar, but it is going to be phased out by 2024.
To be eligible to claim this credit, you must owe federal taxes.