Tangible personal property exemption; component of solar or

# (1)

is used to store or consume usable energy, electricity, or heat;

# (2)

is used to convey, transfer, or alter generated electricity; or

# (3)

will be used to produce energy for the purchaser's residential use, regardless of whether any of the energy produced may be sold to a public utility or power subsidiary.

(b) As used in this section, "solar energy system" means any device that converts solar energy to a form of usable energy with an originally rated nameplate production capacity of at least two (2) megawatts.

(c) As used in this section, "wind energy system" means any device, including a wind turbine, windmill, and wind charger, that converts wind energy to a form of usable energy with an originally rated nameplate production capacity of at least two (2) megawatts.

(d) A transaction involving tangible personal property is exempt from the state gross retail tax if the:

(1) tangible personal property is a component of a solar energy system or wind energy system; and

(2) person acquiring the tangible personal property is a:

(A) public utility that furnishes or sells electrical energy;

(B) power subsidiary (as defined in IC 6-2.5-1-22.5) that furnishes or sells electrical energy to a power utility described in clause (A); or

(C) business that furnishes or sells electrical energy to a public utility described in clause (A), to a power subsidiary described in clause (B), or to a renewable utility grade solar electricity or wind facility that is used to generate electricity for resale to consumers or wholesalers.
As added by P.L.194-2023, SEC.3.