Wind Watch is a registered educational charity, founded in 2005. |
Federal Support for Developing, Producing, and Using Fuels and Energy Technologies (2016)
Translate: FROM English | TO English
Translate: FROM English | TO English
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”
This material is the work of the author(s) indicated. Any opinions expressed in it are not necessarily those of National Wind Watch.
The copyright of this material resides with the author(s). As part of its noncommercial educational effort to present the environmental, social, scientific, and economic issues of large-scale wind power development to a global audience seeking such information, National Wind Watch endeavors to observe “fair use” as provided for in section 107 of U.S. Copyright Law and similar “fair dealing” provisions of the copyright laws of other nations. Queries e-mail.
Wind Watch relies entirely on User Contributions |
(via Stripe) |
(via Paypal) |
Share:
Tags: Wind power, Wind energy