IN SB0094

Requires electricity suppliers to provide increasing percentages of electricity from renewable energy resources, starting at 1% by December 31, 2010 and reaching 20% by December 31, 2021

Defines renewable energy resources to include wind, solar, hydropower, landfill methane, fuel cells, biomass crops, agricultural waste, geothermal systems, and combined heat and power systems achieving at least 70% efficiency

Establishes a $50 per megawatt hour penalty for electricity suppliers failing to meet renewable energy requirements, with penalties deposited into a new Renewable Energy Resources Fund administered by the Indiana Economic Development Corporation

Creates bonus renewable energy credits for electricity generated in Indiana facilities, using Indiana-made equipment, constructed by Indiana workers, or available during peak demand periods

Limits customer rate increases to recover compliance costs, starting at 1% of the overall electric bill (2011-2013) and gradually increasing to 2% (after 2019)