Agency: Department of the Treasury

Agency: Department of the Treasury   Description: Provides an additional tax deduction for facilities or property qualifying for the Clean Electricity Investment Tax Credit. These facilities or property will be treated as a 5-year property for purposes of cost recovery; meaning, they will be able to deduct from their taxable income the depreciating value of…

Agency: Department of the Treasury   Description: Tax credit for certain energy efficient homes, those meeting the Energy Star requirements or the Zero Energy Ready Home standards. Bill Section: 13304 US Code: 26 USC 45L New or Existing: Existing Potential Cost:      $2,043,000,000 Timeline:      2022 – 2032   TCS Notes: Newly constructed single family…

Agency: Department of the Treasury   Description: Tax credit of 30% of the sale price of a previously owned electric vehicle but no more than $4,000 Bill Section: 13402 US Code: 26 USC 25E New or Existing: New Potential Cost:      $1,347,000,000 Timeline:      2023 – 2032   TCS Notes: Must have a sales price…

Agency: Department of the Treasury   Description: Tax credit of up to $0.60/kg for production of hydrogen, defined as 4 kilograms of CO2e per kilogram or less; credit varies by lifecycle GHG emissions rate, with lower emission hydrogen receiving higher credits Bill Section: 13204 US Code: 26 USC 45V New or Existing: New Potential Cost:…

Agency: Department of the Treasury   Description: Tax credit for certain electric and hydrogen powered fuel cell commercial vehicles Bill Section: 13403 US Code: 26 USC 45W New or Existing: New Potential Cost:      $3,583,000,000 Timeline:      2023 – 2032   TCS Notes: Businesses and tax-exempt organizations that buy a qualified commercial clean vehicle may…

Agency: Department of the Treasury   Description: Tax deduction of for the cost of energy efficient commercial building property, calculated by the size of the building. Bill Section: 13303 US Code: 26 USC 179D New or Existing: Existing Potential Cost:      $362,000,000 Timeline:      Property placed in service in 2023 and after   TCS Notes:…

Agency: Department of the Treasury   Description: Tax credit of 30% for individuals implementing “qualified energy efficiency improvements” for certain “residential energy property expenditures” and home energy audits. Bill Section: 13301 US Code: 26 USC 25C New or Existing: Existing Potential Cost:      $12,451,000,000 Timeline:      2022-2032   TCS Notes: Qualified Energy Efficiency Improvements includes…

Agency: Department of the Treasury   Description: Tax credit for manufacturing components related to wind and solar, batteries, and minerals Bill Section: 13502 US Code: 26 USC 45X New or Existing: New Potential Cost:      $30,600,000,000 Timeline:      2023 – 2032 overall but different requirements in statute including phase-out   TCS Notes: $4.6 billion of…

Agency: Department of the Treasury   Description: Tax credit for certain fueling equipment for 85% ethanol, natural gas, compressed or liquified natural gas, liquefied petroleum gas or hydrogen; 20% (or more) biodiesel; or electricity. Bill Section: 13404 US Code: 26 USC 30C New or Existing: Existing Potential Cost:      $1,700,000,000 Timeline:      2022 – 2032…

Agency: Department of the Treasury   Description: Tax credit of $1/gallon for biomass-based diesel (biodiesel and renewable diesel) fuel, plus tax credit for alternative fuels Bill Section: 13201 US Code: 26 USC 40A New or Existing: Existing Potential Cost:      $5,600,000,000 Timeline:      Calendar years 2023-2024, with costs incurred in FY23-25   TCS Notes: Most…