2005 Us Energy Bill Highlights

Car TAX CREDITS

Trade hybrid electric vehicles and vehicles with cleaner burning diesel engines, obvious as aristocratic lean-burn engines, can sum you a tax pay homage to of up to 3,400. The pay homage to is prevalent for the vehicles that be obsessed with the peak fuel, but the pay homage to will stand out curtly last an automaker sells 60,000 certified cars. Tax credits of up to 4,000 are as a consequence not worth it for alternative fuel cars. Businesses can sum the same tax credits, as fine as credits of up to 12,000 for retail large hybrid vehicles, such as buses, and up to 32,000 for the work of large alternative fuel vehicles. And however fuel cell vehicles are not on the push yet, the act as a consequence establishes tax credits for these vehicles. See "Punch Description Signed" on the DOE Web attitude and the Relationship to Assign Punch coerce highest.

For spread information, see pages 1332 to 1433 of the full 1,724-page energy act (as a consequence referred to as the "conference report"), which is not worth it as a "Featured Bring forward" on the Web attitude of the Parliament Court on Punch and Nutritious Money as a 2.6-MB PDF practice. The Web attitude as a consequence nature an 8-page folder by fuel and a 17-page folder by surname. See the Parliament Court Web attitude.

Biofuel Clause and Tax Incentives Included in Punch Act

The Punch Strategy Act of 2005, which Cranium Flowering shrub signed on August 8th, sets a new mother country token must for the use of biofuels, punctiliously ethanol. The new "Renewable Fuels Square" requires that gas sold in the Junction States call together a summative of 4 billion gallons of biofuels in 2006, growing to 7.5 billion gallons in 2012. The expected provides significant mutability for refiners by allowing renewable fuel credits and by eliminating the reformulated gas oxygenate expected.

The savings account allows a pay homage to of 2.5 gallons for each one gallon of ethanol fashioned from wastes or cellulosic (forested) biomass sources. A put off report by DOE's Punch Opinion Contract analyzed a end must and begin it had a marginal impact on fuel prices. See the report.

Ought you install a refueling station for alternative fuels at your home or business, you can sum a 30 percent tax pay homage to (this sounds external for the home, but Honda is now offer home natural gas fueling stations in California). The pay homage to applies to fueling stations for ethanol, natural gas, trodden natural gas, liquefied petroleum gas, hydrogen, and biodiesel blends containing at least 20 percent biodiesel. The act as a consequence extensive tax incentives for fuel distributors that blend biodiesel wearing their diesel fuel. See the coerce releases from the Renewable Fuels Discussion and the Majestic Biodiesel Terrace (PDF 22 KB).

The act as a consequence requires central alternative fuel fleets with flexible fuel vehicles (vehicles that can be fueled with gas or alternative fuels) to in fact use alternative fuels, provided they are somewhat not worth it and not suspiciously steep. These days, many central fleets are retail the flexible fuel vehicles but fueling them cleanly with gas or diesel fuel. See pages 682 to 1724 of the energy act (PDF 2.6 MB).

Favor to:

J. David Dunagan, Select Formal

U.S. Partition of Punch

Southeast Local Religious

david.dunagan@ee.doe.gov

http://www.eere.energy.gov/regions/southeast

For information provided in this publicize