Incentive

Details

Public Utilities

Businesses

Manufacturers

Government – States, Municipal, Tribal

Renewable Energy Incentives

Wind and refined coal production tax credit

Placed in service by Jan. 1, 2010

x

x
Energy Producers

Other sources (e.g., geothermal) production tax credit

Placed in service by Jan. 1, 2011

x

x
Energy Producers

Biomass facilities and facilities that generate electricity from marine renewables (e.g. wave and tidal) production tax credit

Placed in service by Jan. 1, 2011

x

x
Energy Producers

Solar energy and qualified fuel cell property

30% investment tax credit
Placed in service by Jan. 1, 2017

x

x
- Energy Producers
- Financial Investors

Qualified small wind energy property

30% investment tax credit

x

x
- Energy Producers
- Financial Investors

Microturbines

10% investment tax credit
Placed in service by Dec. 31, 2016

x

x
- Energy Producers
- Financial Investors

Clean Renewable Energy Bonds (CREBs) for facilities that generate electricity from:

1. wind
2. closed-loop biomass
3. open-loop biomass
4. geothermal
5. small irrigation
6. qualified hydropower
7. landfill gas
8. marine renewables
9. trash combustion

$800 million of renewable energy bonds. The new bond authorization is allocated into thirds among qualifying:
- projects of state, local, tribal governments
- projects of public power providers
- electric cooperatives
Dec. 31, 2009.

x

x

Transportation and Domestic Fuel Security

Facilities that produce cellulosic biofuels.

This tax benefit is now available for the production of other cellulosic biofuels in addition to cellulosic ethanol.

Taxpayers may immediately write off 50% of the cost of facilities.

For facilities placed in service before Jan. 1, 2013.

x
- Fuel Producers

Biodiesel production tax credit.

The bill eliminates the current-law disparity in credit for biodiesel and agri-biodiesel, and eliminates the requirement that renewable diesel fuel must be produced using a thermal depolymerization process.

Biodiesel imported and sold for export will not be eligible for the credit effective May 15, 2008.

$1.00 per gallon tax credit

Available through Dec. 31, 2009

x
- Fuel Producers

Credit for small biodiesel producers

10¢/gallon tax credit
Available through Dec. 31, 2009

x
- Fuel Producers

Diesel fuel created from biomass production tax credit.

$1.00 per gallon tax credit

x
- Fuel Producers

Diesel fuel created by co-processing biomass with other feedstocks (e.g., petroleum).

50¢/gallon tax credit

x
- Fuel Producers

Alternative fuel excise tax credit through for all fuels except hydrogen.

Beginning in October 2009, qualified fuel derived from coal through the Fischer-Tropsch process must be produced at a facility that separates and sequesters at least 50% of its CO2 emissions. This sequestration requirement increases to 75% on Dec. 31, 2009.

Biomass gas versions of liquefied petroleum gas, liquefied or compressed natural gas, and aviation fuels are qualifying alternative fuels.

Available through Dec. 31, 2009

x
- Fuel Producers

Exemption from the heavy vehicle excise tax for the cost of idling reduction units, such as auxiliary power units (APUs), that eliminate the need for truck engine idling at rest stops or other temporary parking locations.

The bill also exempts the installation of advanced insulation, which can reduce the need for energy consumption by transportation vehicles carrying refrigerated cargo.

tax exemption

x – Truck Drivers

x- Vehicle Manufacturers

Alternative refueling property, such as natural gas or E85 pumps. Electric vehicle recharging properties are now eligible for the credit.

The credit for hydrogen refueling property is unchanged.

30% tax credit
Available through Dec. 31, 2010

x
- Independent Retailers
- Energy Producers

Publicly traded partnerships may treat income from the transportation or storage of certain alternative fuels and anthropogenic CO2 as qualifying income for purposes of the publicly traded partnership rules.

x
- Public Companies
- Financial Investors

Energy Conservation and Efficiency

Tax credit bonds to finance state and local government initiatives designed to reduce greenhouse emissions.

National limitation of $800 million, allocated to states, municipalities and tribal governments

x

Energy-efficient property installed in commercial buildings.

The energy savings must be accomplished through energy and power cost reductions for the building’s heating, cooling, ventilation, hot water, and interior lighting systems.

The amount deductible is up to $1.80 per square foot of building floor area for buildings achieving a 50% energy savings target.

Available through December 31, 2013

x

Energy-efficient new homes.

Contractors receive a credit for constructing homes that achieve a 30% or 50% reduction in heating and cooling energy consumption relative to a comparable dwelling.

The credit equals $1,000 for homes meeting a 30% efficiency standard, and $2,000 for homes meeting a 50% standard.
Available through Dec. 31, 2009

x
- Residential Home Builders

Manufacturers receive a tax credit for the production of energy-efficient dishwashers, clothes washers, and refrigerators. Credit is provided only for appliances that are U.S.-produced.

The bill changes specific efficiency criteria, the allowable credit amount, and extends the credit to appliances manufactured.

x

The bill provides accelerated depreciation for smart electric meters and smart electric grid equipment.

The bill allows taxpayers to recover the cost of this property over a 10-year period, unless the property already qualifies pursuant to a shorter recovery schedule.

x

Qualified green building and sustainable design project bonds.

Available through Oct. 1, 2012

x
- Real Estate Developers