Launches Website to Help Consumers, Businesses Save with New Energy Efficiency
A new web site from the Tax Incentives Assistance Project (TIAP) aims to help
individuals and businesses cut their federal tax bills and their energy bills
in 2006 and 2007 by becoming more energy-efficient. The site, www.energytaxincentives.org,
provides information on valuable new federal income tax incentives in the Energy
Policy Act of 2005 (EPAct).
"With today's spiraling energy costs and predictions of a colder than
normal winter in certain parts of the country, we urgently need to reach out to
consumers and businesses alike and inform them about the new tax credits and about
saving money with energy efficiency," said Kateri Callahan, president of
the Alliance to Save Energy. "The only way to bring down energy prices in
the next few years is to reduce demand - a prescription that energy efficiency
"We hope consumers and businesses will log onto the TIAP website to get
the information they need to lower both their energy bills and their federal income
tax liability," said Steven Nadel, executive director of the American Council
for an Energy Efficient Economy (ACEEE). "Another advantage of this new federal
policy is to grow the marketplace for energy-efficient technologies, so that product
availability can increase and product prices decline, providing long-term benefits
even after the tax incentives expire."
Under the new law, consumers and businesses can receive tax incentives for
specific energy-efficiency upgrades to homes and commercial buildings such as
upgrades to home insulation and windows and commercial building lighting improvements.
In addition, the law includes tax credits for energy-saving technologies such
as hybrid vehicles, appliances, heating and cooling systems, solar energy systems,
and high-efficiency new home and commercial building construction.
TIAP is a coalition of public interest nonprofit organizations, including the
Alliance and ACEEE, as well as government agencies and other leaders in the energy-efficiency
field. Its mission is to help consumers and businesses benefit from EPAct's federal
income tax incentives and credits. A full list of TIAP supporters can be found
TIAP will update the web site regularly as the IRS makes new information available.
TIAP partners also will work with government agencies to ensure that they issue
and implement guidelines and rules in a timely and appropriate manner.