INDIANAPOLIS (AP) -
Much of the financial incentive for installing solar panels would be
eliminated in the coming years under a bill passed by the Indiana Senate.
Solar panel owners
who feed surplus energy to the power grid are currently compensated at a
retail market rate that helps pay off their investments.
Brandt Hershman’s bill would drastically reduce that rate in five years,
although it would grandfather in current solar panel owners for 30 years.
concern over compensation rates will be moot as the cost and efficiency of
the technology improves.
accounts for less than 1 percent of Indiana’s power, but it could threaten
power company profits if its popularity continues to grow.
The measure passed
39-9 Monday and now goes to the House.