The Economic Stimulus Act of 2008

The Cunctator — Wed, 30 Jan 2008 14:30:00 -0600

Modification Energy Package part of package passed by committee.

Provision	Approx Cost (billions)
PTC (Sec. 45)	3.0
Solar (residential & business, including fuel cells, microturbines)	0.13
CREBs ($400m allocation)	0.2
Commercial buildings	0.15
Efficient homes (new)	0.06
(exp. 12/07) Efficient homes (existing)	1.5
(exp. 12/07) Efficient appliances	0.32
Percentage Depletion (marginal wells and stripper wells)	0.25
TOTAL	5.57

1. Production Tax Credit (Section 45). Extends placed-in-service deadline for qualifying electric generating facilities (wind, biomass, geothermal, etc.) for one year. Estimated cost is $3b/10.

2. Solar, fuel cell, microturbine credits (Sections 48 and 25D). Extends Section 48 (30% investment credit for solar and fuel cell property, 10% credit for microturbines) and Section 25D residential solar credit for one year. Cost is approx. $130m/10.

3. Clean Renewable Energy Bonds (CREBs). Provides $400m in new CREBs issuance, at estimated cost of $206m/10.

4. Appliances Manufacturer Credit. Extends manufacturer credit for high-efficiency appliances for two years through 2009, at cost of approximately $323m/10.

5. Energy-Efficient Existing Homes. Extends 10% investment tax credit for energy-efficient home retrofits (windows, heating and cooling equipment, etc.) through 2009, at estimated cost of $1.5b/10.

6. Energy-efficient Commercial Buildings: Extends deduction for energy-efficient commercial buildings for one year, at estimated cost of $153m/10.

7. Energy-efficient New Homes. Extends credit for energy-efficient new homes for one year, at estimated cost of $61m/10.

8. Percentage depletion for marginal wells. Extends suspension on the taxable income limit for purposes of depreciating a marginal oil or gas well through 2009, at estimated cost of $247m/10.

Hill Heat: The Economic Stimulus Act of 2008

The Economic Stimulus Act of 2008