Increased advanced power generation could deliver millions in tax revenue to local communities, bolster Hoosiers' energy independence, and keep costs down for consumers
INDIANAPOLIS, IN – A surge in economic development in Indiana is driving a growing need for electricity, and a new report shows solar power produced in-state would help meet this demand – but only if proposed projects are actually built. Indiana is a Midwest leader in attracting advanced manufacturing and technology-driven economic growth, and the report makes clear that advanced power resources such as solar could power the state’s bright future.
The new report, from Baker Tilly, “Forecasting the Economic Impact Potential of Solar in Indiana,” shows expanding solar power generation in Indiana would drive millions in additional tax revenue to local communities to help pay for community and emergency services, all while creating new jobs, helping to lower energy costs and enabling the state to maintain its economic development momentum by meeting growing electricity demand.
The report found solar projects could bring in more than $352 million in tax revenue during development and construction, and tens of millions of dollars in tax revenue for local communities annually. These projects would create more than 16,000 temporary construction jobs and 1,400 permanent Indiana jobs.
"This report makes clear expanding advanced power generation such as solar, wind and battery storage would allow Indiana to meet its growing energy needs while creating jobs and keeping costs down for all electricity consumers,” said Trish Demeter, Managing Director for Advanced Energy United. “If we ensure wind and solar projects in Indiana are treated fairly and allowed to operate with clear, consistent regulations, then Indiana will see increased investment and a surge in local tax revenue in communities across the state.”
“Right now, Indiana’s patchwork regulatory framework creates uncertainty and risk for private sector investment. This has stalled new power generation projects, preventing crucial energy from coming online even as demand is rising,” Demeter said. “This report shows that the state stands to gain more economic development opportunities and tax revenue should barriers to developing projects be reduced.”
More than 29 solar projects were at various developmental stages as of September 2024. The new report examines the tax benefits, local economic development gains and job creation prospects of allowing the currently planned and slated solar projects set to begin operation by 2027.