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Federal Support for Developing, Producing, and Using Fuels and Energy Technologies (2016)  

Author:  | Economics, U.S.

Table 1. Energy-Related Tax Preferences, 2016
Type of Fuel or Technology Supported Tax Preference Estimated Total Cost
(Billions of Dollars)
Expiration Date
Tax Preferences Affecting Income Taxes
Renewable Energy Credits for the production of electricity from renewable resources 3.4 Various
Credits for investments in solar and geothermal equipment, fuel cells, and microturbines 2.6 Various
Credit for investment in advanced energy property, including property used in producing energy from wind, the sun, or geothermal sources 0.3 Fixed $2.3 billion in credit; available until used
Five-year depreciation for certain renewable energy equipment 0.3 None
Total 6.6
Fossil Fuels Expensing of exploration and development costs for oil and natural gas 1.8 None
Option to expense depletion costs on the basis of gross income rather than actual costs 0.9 None
Exceptions for publicly traded partnerships with qualifying income derived from certain energy-related activities 0.9 None
Amortization of costs of air pollution control facilities 0.5 None
Credit for investment in clean coal facilities 0.2 Fixed dollar amount of credit; available until used
15-year depreciation for natural gas distribution lines 0.2 12/31/2010
Amortization of geological and geophysical expenditures associated with oil and gas exploration 0.1 None
Total 4.6
Energy Efficiency Residential efficiency property credit 1.1 12/31/2021
Credit for energy-efficiency improvements to existing homes 0.5 12/31/2016
Credit for new energy-efficient homes 0.4 12/31/2016
Credit for plug-in electric vehicles 0.3 Expires for each manufacturer when the number of vehicles it sells reaches the limit set by the federal government
Deduction for energy-efficient commercial buildings 0.2 12/31/2016
10-year depreciation for smart meters or other devices for monitoring and managing energy use 0.1 None
Electricity 15-year depreciation of certain property related to electricity transmission 0.1 None
Total 2.6
Nuclear Energy Special tax rate for reserve funds for nuclear decommissioning 0.2 None
Tax Preferences Affecting Energy-Related Excise Taxes
Renewable Energy Biodiesel and renewable diesel credits 3.6 12/31/2016
Tax incentives for alternative fuels 0.6 12/31/2016
Grants in Lieu of Tax Credits Affecting Energy-Related Excise Taxes
Renewable Energy Section 1603 grants 0.1 12/31/2011
All Energy-Related Tax Preferences
Total 18.4 n.a.

Terry Dinan, Senior Adviser Microeconomic Studies Division, Congressional Budget Office
Before the Subcommittee on Energy Committee on Energy and Commerce, U.S. House of Representatives, March 29, 2017

Download original document: “Federal Support for Developing, Producing, and Using Fuels and Energy Technologies

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