Sec. 26. (a) The owner of real property, or a mobile home which is not assessed as real property, which is equipped with a solar energy heating or cooling system may have deducted annually from the assessed value of the real property or mobile home an amount which is equal to the out-of-pocket expenditures by the owner (or a previous owner) of the real property or mobile home for:

(1) the components; and

(2) the labor involved in installing the components;

that are unique to the system and that are needed to collect, store, or distribute solar energy.

     (b) The tangible property to which subsection (a) applies includes a solar thermal air system and any solar energy heating or cooling system used for:

(1) domestic hot water or space heat, or both, including pool heating; or

(2) preheating for an industrial process.

     (c) Subsection (a) does not apply to tangible property that would not be subject to assessment and taxation under this article if this section did not apply.

     (d) For purposes of subsection (a), proof of out-of-pocket expenditures may be demonstrated by invoices or other evidence of a purchase and installation, as determined under rules or guidelines prescribed by the department of local government finance.

[Pre-1975 Property Tax Recodification Citation: 6-1-9.5-1.]

Formerly: Acts 1975, P.L.47, SEC.1. As amended by Acts 1977, P.L.68, SEC.1; Acts 1979, P.L.56, SEC.1; P.L.90-2002, SEC.114; P.L.113-2010, SEC.25.