Indianapolis • Indiana Gov. Eric Holcomb has signed a bill into law that will sharply curtail the benefit available to those who install solar panels.
Tuesday was the last day the Republican could veto or sign the bill, which critics contend is part of a broader nationwide push by utilities to seize control of the emerging solar market.
Holcomb says he understands those concerns, but signed the bill because the benefit will be phased out slowly.
Indiana's investor-owned utility companies lobbied for the measure during the legislative session. They say solar panel owners who feed excess power to the grid are compensated too generously, a rate that will be drastically lowered under the measure.
Critics say Indiana's approach is too Draconian and will muscle out smaller companies, like solar panel installers.
FILE - In this Jan. 23, 2015, file photo, Joe Bowling, supervisor for the Englewood Solar Project, looks over solar panels on the roof of the Englewood Christian Church in Indianapolis. Indiana Gov. Eric Holcomb faces a Tuesday, May 2, 2017, deadline to take action on a bill that would sharply curtail the benefit available to those who install solar panels. Indiana's utilities lobbied for the measure during the legislative session. (AP Photo/The Indianapolis Star, Mike Fender File)
Indiana Gov. Eric J. Holcomb speaks at the Statehouse in Indianapolis, Tuesday, May 2, 2017. Holcomb faces a Tuesday deadline to take action on a bill that would sharply curtail the benefit available to those who install solar panels. Indiana's utilities lobbied for the measure during the legislative session. (AP Photo/Michael Conroy)
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