1. (a) This section does not apply to tangible personal property that:

   1. (1) is used to store or consume usable energy, electricity, or heat;
   2. (2) is used to convey, transfer, or alter generated electricity; or
   3. (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.
2. (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.
3. (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.

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

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

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

      1. (A) public utility that furnishes or sells electrical energy;
      2. (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
      3. (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.