Rep. Koch's amendment to HB 1347 also expands opportunities for net metering in Indiana by adding business and industry as customers eligible to net meter and increasing the amount of energy that can be net metered. Net metering allows consumers of electricity to generate their own energy and return excess electricity to the grid in exchange for credit.
Rep. Koch's legislation, The Renewable Energy Technology Manufacturer Tax Credit and The Business Renewable Energy Investment Tax Credit, permits the Indiana Economic Development Corp. to award tax credits for qualified investments in renewable energy technology such as wind turbines, solar panels, solar thermal electric technologies, fuel cells, geothermal energy systems and anaerobic digestion systems.
"These tax credits work in harmony together to incentivize the purchase and manufacturing of renewable energy systems, and with the other provisions of House Bill 1347, which expand net metering in Indiana," said Rep. Koch. "I want to position Indiana to attract new renewable energy technology manufacturers and to help existing businesses retool and expand. Tens of thousands of new 'green' jobs will be created in the next few years, and Indiana needs them here and needs them now.
"Distributed generation - empowering consumers and businesses to generate their own electricity - can help us achieve energy independence and meet the growing worldwide demand for electricity," Rep. Koch said. "Anyone who wants to can now become an energy producer."
Rep. Koch is a member of the House Commerce, Energy, Technology and Utilities committees and is assistant Republican caucus chairman. He represents House District 65, which includes parts of Bartholomew, Brown, Jackson, and Lawrence counties. Rep. Koch can be reached at h65@IN.gov, or by phone at 1-800-382-9841.