With Indiana's energy demand projected to grow over the next decade, state lawmakers have taken steps this legislative session to ensure our energy grid can meet future needs while remaining affordable and reliable for Hoosiers. Several new laws are aimed at modernizing the state's energy infrastructure and protecting ratepayers from being saddled with the costs of large energy users.
House Enrolled Act 1007, a priority for the Indiana House Republicans, will provide incentives, such as a tax credit, to attract small modular nuclear reactor (SMR) manufacturers to Indiana, increasing industry and diversifying our generation types. The goal being to strike a balance between building new generation sources and overbuilding at the expense of ratepayers.
Senate Enrolled Act 423 builds on Indiana's progress in energy innovation by launching a SMR pilot program, encouraging utilities to collaborate on forward-thinking solutions to meet rising energy demands. This law also includes safeguards to protect ratepayers by capping how much utilities can recover through rate increases.
Senate Enrolled Act 424 modernizes the eligibility and approval set by the Indiana Utility Regulatory Commission for SMR cost recovery and energy generation projects. These updates help ensure utilities operate in the best interest of consumers while supporting Indiana's commitment to the five key pillars of energy: reliability, affordability, resiliency, stability and environmental sustainability.
Senate Enrolled Act 425 streamlines the permitting and development process for new energy projects by creating Energy Production Zones. These zones help cut through red tape and reduce regulatory barriers, making it easier for companies to invest in Indiana's energy future. By easing local zoning restrictions, the new law encourages new electric generation to attract major investment and support the creation of high-quality jobs across the state.
