A new Indiana law that took effect January 1st could change incentives you receive for using solar energy.
Solar energy caught the eye of Sandys Pizza in Fort Branch just as Senate Bill 309 was drafted.
The new law went into effect this year and put a time cap for current net metering incentives — causing Sandys Pizza to act quickly.
“We found out about the law” said Sandys Pizza General Manager Julia Reneer “it was that you had to install them before December 31st which we did to be grandfathered in for 30 years and we were able to meet that.”
Net metering allows solar panel users to get a credit on their power bills for putting excess energy back onto the power grid.
Anyone who installs panels after December 31st 2017 will stay at their current power rate for another 15 years.
If you installed your solar panel before that date you will continue your rate for 30 years.
After those time caps are up the rates will change.
“It’s a huge savings 2,000 dollars monthly” said Reneer.
However, solar energy is not for everyone. Dewig Meats says it would not be best choice for their business.
“We use more electric than the solar panels would ever produce” said Dean Dewig “so we would continue to have to buy some from the local power supply.”
Vectren told Eyewitness News solar panels and other renewable energy sources are becoming more affordable for customers. Also saying, changes to laws on self-generation of electricity need to reflect the market price for electricity.
Under the new law, Vectren will eventually not have to pay local customers as much money as it currently does for excess energy.