Energy Tax Credits And Residential Conservation Investment
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United States. Congress. Joint Committee on Taxation,United States. Congress. House. Committee on Ways and Means
Author : United States. Congress. Joint Committee on Taxation,United States. Congress. House. Committee on Ways and Means Publisher : Unknown Page : 36 pages File Size : 48,7 Mb Release : 1979 Category : Energy conservation ISBN : STANFORD:36105110744765
Description of Administration Proposals Regarding Energy-related Tax Incentives by United States. Congress. Joint Committee on Taxation,United States. Congress. House. Committee on Ways and Means Pdf
Residential Energy Tax Credits by Margot L. Crandall-hollick,Molly F. Sherlock Pdf
Currently, taxpayers may be able to claim two tax credits for residential energy efficiency: one is scheduled to expire at the end of 2011, whereas the other is scheduled to expire at the end of 2016. The nonbusiness energy property tax credit (Internal Revenue Code (IRC) §25C) currently provides homeowners with a tax credit for investments in certain high-efficiency heating, cooling, and water-heating appliances, as well as tax credits for energy-efficient windows and doors. For installations made during 2011, the credit rate was 10%, with a maximum credit amount of $500. The credit available during 2011 was less than what had been available during 2009 and 2010, when taxpayers were allowed a 30% tax credit of up to $1,500 for making energy-efficiency improvements to their homes. The residential energy efficient property credit (IRC §25D), which provides a 30% tax credit for investments in properties that generate renewable energy, such as solar panels, is scheduled to remain available through 2016. Advances in energy efficiency have allowed per-capita residential energy use to remain relatively constant since the 1970s, even as demand for energy-using technologies has increased. Experts believe, however, that there is unrealized potential for further residential energy efficiency. One reason investment in these technologies might not be at optimal levels is that certain market failures result in energy prices that are too low. If energy is relatively inexpensive, consumers will not have a strong incentive to purchase a technology that will lower their energy costs. Tax credits are one policy option to potentially encourage consumers to invest in energy-efficiency technologies. Residential energy-efficiency tax credits were first introduced in the late 1970s, but were allowed to expire in 1985. Tax credits for residential energy efficiency were again enacted as part of the Energy Policy Act of 2005 (P.L. 109-58). These credits were expanded and extended as part of the American Recovery and Reinvestment Act of 2009 (ARRA; P.L. 111-5). The Section 25C credit was again extended, at a reduced rate, and with a reduced cap, through 2011, as part of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (P.L. 111-312). Although the purpose of residential energy-efficiency tax credits is to motivate additional energy efficiency investment, the amount of the investment resulting from these credits is unclear. Purchasers investing in energy-efficient property for other reasons—for example concern about the environment—would have invested in such property absent tax incentives, and hence stand to receive a windfall gain from the tax benefit. Further, the fact that the incentive is delivered as a nonrefundable credit limits the provision's ability to motivate investment for low- and middle income taxpayers with limited tax liability. The administration of residential energy-efficiency tax credits has also had compliance issues, as identified in a recent Treasury Department Inspector General for Tax Administration (TIGTA) report. There are various policy options available for Congress to consider regarding incentives for residential energy efficiency. One option is to let the existing tax incentives expire as scheduled. A second option would be to extend or modify the current tax incentives. S. 3521, the Family and Business Tax Cut Certainty Act of 2012, would extend the 25C credit for two years—2012 and 2013. Another option would be to replace the current tax credits with a grant or rebate program—the Home Star Energy Retrofit Act of 2010 (H.R. 5019 / S. 3177 in the 111th Congress), for example. Grants or rebates could be made more widely available, and not be limited to taxpayers with tax liability. Enacting a grant or rebate program, however, would have additional budgetary cost.
Residential Energy Tax Credits by Lena Kingston Pdf
Residential energy efficiency can benefit consumers through reduced utility bills, and support national environmental policy objectives by reducing the demand for electricity generated using fossil-fuels and reducing current strains on the electric power grid. Various policies to increase conservation and energy efficiency have been adopted since the 1970s, including tax incentives. Developing and deploying technologies that are consistent with the most efficient use of our nation's energy resources is broadly appealing. This book explores tax credits as a means of promoting residential energy efficiency. It also provides insight on energy conservation and climate changes.
Residential Energy Tax Credits by Lena Kingston Pdf
Residential energy efficiency can benefit consumers through reduced utility bills, and support national environmental policy objectives by reducing the demand for electricity generated using fossil-fuels and reducing current strains on the electric power grid. Various policies to increase conservation and energy efficiency have been adopted since the 1970s, including tax incentives. Developing and deploying technologies that are consistent with the most efficient use of our nation's energy resources is broadly appealing. This book explores tax credits as a means of promoting residential energy efficiency. It also provides insight on energy conservation and climate changes.
Author : Leonard S. Rodberg,Meg Schachter Publisher : Council of State Policy & Planning Agencies Page : 116 pages File Size : 40,6 Mb Release : 1980 Category : Business & Economics ISBN : UOM:39015007217782
Energy Tax Credits and Residential Conservation Investment by Kevin A. Hassett,Gilbert E. Metcalf Pdf
We model the decision to invest in residential energy conservation capital as an irreversible investment in the face of price uncertainty. The irreversible nature of this investment means that there is a value to waiting to invest (an option value) which helps explain the low rate of conservation investment as a result of the residential energy tax credit. Simulations suggest that a tax credit of the type implemented from 1978 through 1985 will not increase conservation investment significantly. We investigate the empirical evidence on the effectiveness of credits using data from a panel data set of roughly 38,000 individual tax returns followed over a three year period from 1979-1981. Unlike previous work, we find that the energy tax credit is statistically significant in explaining the probability of investing. Our estimates suggest that increasing the federal credit by 10 percentage points would increase the percentage of households claiming the credit from 5.7% to 7.1%.
United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Energy Conservation and Power
Author : United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Energy Conservation and Power Publisher : Unknown Page : 288 pages File Size : 47,5 Mb Release : 1985 Category : Energy conservation ISBN : STANFORD:36105045266413
United States. Congress. House. Committee on Science and Technology. Subcommittee on Energy Development and Applications
Author : United States. Congress. House. Committee on Science and Technology. Subcommittee on Energy Development and Applications Publisher : Unknown Page : 374 pages File Size : 44,6 Mb Release : 1983 Category : Energy industries ISBN : LOC:0011279069A
Tax Incentives for New Energy Technologies by United States. Congress. House. Committee on Science and Technology. Subcommittee on Energy Development and Applications Pdf
United States. Congress. Senate. Committee on Finance. Subcommittee on Energy and Agricultural Taxation
Author : United States. Congress. Senate. Committee on Finance. Subcommittee on Energy and Agricultural Taxation Publisher : Unknown Page : 272 pages File Size : 51,6 Mb Release : 1991 Category : Business & Economics ISBN : STANFORD:36105045288680
United States. Congress. Senate. Committee on Energy and Natural Resources. Subcommittee on Energy Conservation and Supply
Author : United States. Congress. Senate. Committee on Energy and Natural Resources. Subcommittee on Energy Conservation and Supply Publisher : Unknown Page : 602 pages File Size : 42,8 Mb Release : 1981 Category : Energy conservation ISBN : LOC:00145394363
Department of Energy Fiscal Year 1982 Authorization (conservation Programs) by United States. Congress. Senate. Committee on Energy and Natural Resources. Subcommittee on Energy Conservation and Supply Pdf
