DOE, Alliance to Save Energy Help Consumers
Lower Taxes, Energy Bills With Info on New Federal Tax Credits for
Energy-Efficiency Home Improvements, Hybrid Vehicles
November 16, 2005 — By Alliance to Save Energy
WASHINGTON — New information from the Department of Energy (DOE) and the
Alliance to Save Energy (ASE) (www.ase.org/taxcredits)
will help consumers reduce their federal income taxes in 2006 and 2007 by making
their homes more energy-efficient and purchasing fuel-efficient vehicles. The
information reflects provisions in the Energy Policy Act of 2005 and is provided
as part of the DOE/Alliance Powerful $avings campaign to help consumers reduce
their energy bills and the nation lower its overall energy use.
The Internal Revenue Service has not yet issued specific guidance for consumers
on how to claim the income tax credits, but in the meantime the web pages offer
comprehensive information, based on the new energy law, to help consumers save
money on their energy bills and their federal income taxes. The web pages will
be updated on a continuing basis as the IRS makes new details available.
Under the new energy law, consumers can save up to $500 in taxes in 2006 and
2007 for specific energy-efficiency upgrades to existing homes. In addition,
consumers — and businesses — can save up to $3,400 on energy-efficient
hybrid-electric or diesel vehicles purchased.
The Powerful $avings campaign (www.ase.org/powerfulsavings)
provides tips for lowering energy bills at home and on the road. Consumers also
can find a wealth of energy and money-saving tips in DOE’s free Energy Savers
booklet (www.energysavers.gov),
which is available in both English and Spanish versions.
Contact Info:
Ronnie Kweller
Alliance to Save Energy
(202) 530-2203
rkweller@ase.org
Chris Kielich Department of Energy
(202) 586-5806
christina.kielich@hq.doe.gov
Website :
www.ase.org