Solar
- Extends the tax credits for investment in commercial and residential solar projects for eight years
- Allows a new energy tax credit for combined heat and power system property
- Removes the $2,000 cap on investments in residential solar electric installations
- Adds utilities as eligible recipients of tax credits
Wind
- Extends the tax credit for the production of energy from wind for one year
- Allows a new energy tax credit for 30% of expenditures for wind turbines used to generate electricity in a residence and for geothermal heat pump systems
Misc. Renewable/Non-renewable generation
- Allows offsets of tax credit amounts against alternative minimum tax (AMT) liabilities
- Extends tax credit for other facilities, including closed and open-loop biomass, solar energy, small irrigation power, landfill gas, trash combustion, and hydropower for two years
- Allows a new tax credit for investment in new clean renewable energy bonds for capital investment in renewable energy facilities
- Extends the tax credit for microturbine property for eight years
- Extends the tax credits for investment in commercial fuel cells for eight years and increases the credit limitation for fuel cell property to $1500
Vehicles
- Allows a new tax credit for new qualified plug-in electric drive motor vehicles
- Extends the excise tax credit for alternative fuel and fuel mixtures for one year
- Requires such fuels to include compressed or liquefied biomass gas and to meet certain carbon capture requirements
For a comprehensive list of all the issues included in this bill including transmission, clean coal and transportation fuel provisions, please contact a member of CCSE’s policy staff or visit http://thomas.loc.gov/home/c110query.html
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