Tax committees in both the US Senate and House of Representatives are in the process of meeting and are expected to review, reinstate, and strengthen several tax bills containing energy incentives that expired at the end of 2013.

Earlier this year, letters were sent by dozens of leaders in energy industries to Congress urging a multi-year extension of expired energy tax credits and deductions. Extending the tax credits would provide the necessary stability for businesses to finalize decisions to building new buildings or improve the ones they are in and do so in an energy-efficient manner.

Here is a list of tax credits that have or will soon expire. These have been credited with helping businesses remain competitive and do so in an energy efficient manner and help develop needed infrastructure, and advanced fuels. These are being considered for extension by the US Congress:

Generation
• Renewable Electricity Production Tax Credit
• Replace the Investment Tax Credit (Section 48) placed-in-service qualifying deadline with a commence construction standard
• Bonus Depreciation

Efficiency
• Energy-Efficient Commercial Building Deduction (IRS Section 179D)
• Residential Energy Efficiency Credit (25C)
• Energy-Efficient New Homes Credit (45L)
• Energy-Efficient Appliance Manufacturing Credit (45M)

Transportation
• Alternative Fuel Vehicle Refueling Property Credit (30C)
• Alternative Fuel and Fuel Mixtures Credit (6426)
• Biodiesel and Renewable Diesel Credit (40A)
• Second Generation (Cellulosic) Biofuel Producer Credit (40)
• Special Depreciation Allowance for Second Generation Biofuel Plant Credit (168)

CCES has the expertise to help you develop a project that will qualify for incentives, whether they be federal ones, such as these, when reinstated, or state, local or utility incentives. Contact us today at 914-584-6720 or at karell@CCESworld.com.