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The U.S. Energy Policy Act of 2005 established a federal income tax credit of up to $3,400 for the purchase of new hybrid vehicles, purchased or placed into service after December 31, 2005. [1] [2] Vehicles purchased after December 31, 2010 are not eligible for this credit.
The Energy Tax Act (Pub. L. 95–618, 92 Stat. 3174, enacted November 9, 1978) is a law passed by the U.S. Congress as part of the National Energy Act.The objective of this law was to shift from oil and gas supply toward energy conservation; thus, to promote fuel efficiency and renewable energy through taxes and tax credits.
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The Toyota Prius Plug-in Hybrid, released in January 2012, was eligible for a $2,500 tax credit due to its smaller battery capacity of 5.2 kWh. [278] All Tesla cars and Chevrolet Bolts were eligible for the $7,500 tax credit. As granted by the 2009 ARRA, electric vehicles produced after 2010 are eligible for an IRS tax credit from $2,500 to ...
In terms of wind energy, five areas were advanced: 1. an extension was given for the federal production tax credit (PTC) until December 31, 2012; 2. wind energy facilities can make use of an investment tax credit (ITC) for certain property in substitution for PTC; 3. wind projects initiated in 2009 and 2010 can receive a 30% grant from the ...
Clean Edge lists other recent policies of the Obama Administration to support the clean energy sector in the U.S.: [13] • Extending the investment tax credit for solar energy, • Extending the production tax credit for wind energy, • Allowing utilities to participate in income tax credits, and
Time is running out for qualified home buyers to take advantage of the 2010 home buyer's credit. First-time and existing home buyers have until this Thursday, September 30, 2010, to close on their ...
The "Energy Credit for Qualified Fuel Cell Property and Qualified Microturbine Property" was created in 2008, [46] but it appears to have expired as of 2013. Individual taxpayers may claim several energy credits to reduce their federal income taxes, if they file the Long Form 1040 along with Form 5695 attached.