Tag Archives: US Dept of Treasury

Green Tax Breaks Available Thu 2016

If you purchase an energy-efficient product or renewable energy system for your home, you may be eligible for a federal tax credit.

Below you will find an overview of the federal tax credits for energy efficiency that are still available.

Some energy efficiency tax credits were also available in 2009 and 2010. These can still be claimed on your 2010 taxes. Learn more about the tax credits that expired at the end of 2010.

NOTE: The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 included changes to home energy efficiency tax credits, beginning after December 31, 2010. This page will be updated with more information; please check back.

How to Claim Your Tax Credit

  • Note: Tax forms for the 2010 tax year may not yet be available. Visit the IRS Web site to obtain the latest forms.
  • Claim improvements made in 2010 on your 2010 taxes, filed by April 15, 2011.
  • Use the 2010 version of the following forms:
    • For renewable and efficiency credits: IRS Form 5695.
    • For alternative motor vehicle credits: IRS Form 8910. Also download instructions for form 8910.
    • For qualified plug-in electric drive motor vehicle credits: IRS Form 8936
  • Save your receipts and the Manufacturer Certification Statement for your records.
  • For 2009 taxes, visit the IRS Web site to obtain the 2009 version of these forms.

Products Eligible for Tax Credits Through 2016

Tax credits for these products are available at 30% of the cost, with no upper limit, through 2016 (Select “See Details” for more information on each product, or see the printable version).

Geothermal Heat Pump

Photo of two geothermal heat pump—two tall rectangular boxes with pipes and tubes coming out the top of each.

Credit: Bruce Green

Credit: 30% of cost, with no upper limit

When and Where:

  • Must be “placed in service” by Dec. 31, 2016
  • Available on principal home or second home.
  • New and existing homes

Solar Energy Systems

Photo of solar panels on the roof of a home.

Credit: Cheryl Unger

Credit: 30% of cost, with no upper limit

When and Where:

  • Must be “placed in service” by Dec. 31, 2016
  • Available on principal home or second home.
  • New and existing homes
  • See details

    Product Requirements More Information
    Solar Water Heating Property At least half of the energy generated by the “qualifying property” must come from the sun.

    The system must be certified by the Solar Rating and Certification Corporation (SRCC).

    Credit includes installation costs.

    Learn more about solar water heaters.

    All ENERGY STAR solar water heaters qualify.

    The water must be used in the dwelling. The credit is not available for expenses for swimming pools or hot tubs.

    Tax credits are only available for the solar water heating system property, not the entire water heating system of the household.

    Photovoltaic Systems (Solar Electric Property) Photovoltaic systems must provide electricity for the residence and must meet applicable fire and electrical code requirement. Learn more about:

Wind Energy Systems

Photo of a home with a small wind turbine behind the garage.

Credit: Bergey WindPower

Credit: 30% of cost, with no upper limit

When and Where:

  • Must be “placed in service” by Dec. 31, 2016
  • Available on principal home or second home.
  • New and existing homes
  • See details

    Product Requirements More Information
    Residential Small Wind Turbines Nameplate capacity of not more than 100 kilowatts.

    Credit includes installation costs.

    Learn more about:

Fuel Cells

Photo of a man examining one of three fuel cells. The fuel cells are tall boxes, roughly six feet tall and three feet wide, with a round panel on the front.

Credit: Capstone Turbine Corporation

Credit: 30% of cost, up to $500 per .5 kW of power capacity

When and Where:

  • Must be “placed in service” by Dec. 31, 2016
  • Primary residence
  • New and existing homes
  • See details

    Product Requirements More Information
    Residential Fuel Cell Systems Efficiency of at least 30% and must have a capacity of at least 0.5 kW.

    Credit includes installation costs.

Vehicle Tax Credits

Tax credits are also available for some vehicles (Select “See Details” for more information on each product, or see the printable version).

Vehicles

Photo of a hybrid electric vehicle.

Credit: ©iStockphoto.com

Credit: Varies, see below.

When:

  • See below; credits phased-out after certain number of vehicles are sold.
  • See details

    Product Requirements More Information
    Hybrids, battery-powered, plug-in electric, advanced lean burn, fuel cell, or alternative fuel vehicles Credit is based on a formula determined by vehicle weight, technology, and fuel economy compared to base year models. There is a 60,000 vehicle limit per manufacturer before a phase-out period begins. See Fueleconomy.gov to find out which vehicles are still eligible.

    Use IRS Form 8910 (PDF 86 KBPDF) for vehicles purchased for personal use. Use IRS Form 3800 (PDF 144 KBPDF) for vehicles purchased for business. The 2009 forms will be available late 2009 or early 2010.

    Also see credits for alternative fuel vehicle refueling property.

    Plug-in Electric Vehicles Credit: $2,500-$7,500, based on capacity of the battery system. The first 200,000 vehicles sold get the full tax credit before the credit begins phasing out. Use IRS Form 8936 (PDF 78 KBPDF).

    See the IRS information on the Plug-in Electric Vehicle Credit.

You May Be Eligible for Additional Incentives

The tax credits listed here are federal tax credits.

These can be combined with other state, local, and utility incentives.

Related Links

Note: This summary is for informational purposes only and should not be considered official tax information. Please see the IRS web site for official tax guidance.

 

 

 

 

Republicans Take Heed-Science the GOP can’t wish away

Suggestions for the Republicans in Office:

  1. Get with the Program and push yourself away Monetary Feed Trough; supported by the Big Oil and Big Coal Campaign Donations, it is clouding your Judgment on Global Warming / Climate Change.
  • The Fog in your Head is being caused by the CO2 emissions from Fossil Fuels

See for Your Self and determine which Politician in your States Elected Officials- whose side of the Bread gets Buttered by the Big Oil and Big Coal Companies at: http://dirtyenergymoney.com/view.php?type=congress (Missouri’s Roy Blunt made the Top 5. (That’s sure something to be proud of-NOT!))

If you think the USA does not want Clean Energy for Homes and Business- Take note of the Nov 2, 2010 Election and the Clean Green Energy-http://ballotpedia.org/wiki/index.php/California_Proposition_7_%282008%29

It obvious that the Republican Party is not interested in Creating Jobs-yet so many Americans are out of Work-WTF? Is not a portion of your Pay Check created by the Taxes levied against our Pay Checks? Maybe Americans should claim Exempt on their W4’s?

Food For Thought: What if the Political Leaders Pay Checks were determined by the Performance of their Actions or Lack of Actions in the Congress and Senate. I bet many would be singing a different tune.

Mark my Words: Lack of Bi-Partisanship will be a factor in the Next Election

Republicans supposedly support Business Growth- How much will a Business Grow if the Un-Employed can’t buy any products?

I encourage everyone to contact your Leaders in the House and Senate, use the following web link to find your Elected Officials Contact Information and Let them know your Thoughts. They are supposed to Listen to their Constituents.
http://tellmypolitician.com

Science the GOP can’t wish away

By Sherwood Boehlert
Friday, November 19, 2010

Watching the raft of newly elected GOP lawmakers converge on Washington, I couldn’t help thinking about an issue I hope our party will better address. I call on my fellow Republicans to open their minds to rethinking what has largely become our party’s line: denying that climate change and global warming are occurring and that they are largely due to human activities.

National Journal reported last month that 19 of the 20 serious GOP Senate challengers declared that the science of climate change is either inconclusive or flat-out wrong. Many newly elected Republican House members take that position. It is a stance that defies the findings of our country’s National Academy of Sciences, national scientific academies from around the world and 97 percent of the world’s climate scientists.

Why do so many Republican senators and representatives think they are right and the world’s top scientific academies and scientists are wrong? I would like to be able to chalk it up to lack of information or misinformation.

I can understand arguments over proposed policy approaches to climate change. I served in Congress for 24 years. I know these are legitimate areas for debate. What I find incomprehensible is the dogged determination by some to discredit distinguished scientists and their findings.

In a trio of reports released in May, the prestigious and nonpartisan National Academy concluded that “a strong, credible body of scientific evidence shows that climate change is occurring, is caused largely by human activities and poses significant risks for a broad range of human and natural systems.” Our nation’s most authoritative and respected scientific body couldn’t make it any clearer or more conclusive.

When I was chairman of the House Committee on Science, top scientists from around the world came before our panel. They were experts that Republicans and Democrats alike looked to for scientific insight and understanding on a host of issues. They spoke in probabilities, ranges and concepts – always careful to characterize what was certain, what was suspected and what was speculative. Today, climate scientists – careful as ever in portraying what they know vs. what they suspect – report that the body of scientific evidence supporting the consensus on climate change and its cause is as comprehensive and exhaustive as anything produced by the scientific community.

While many in politics – and not just of my party – refuse to accept the overwhelming scientific evidence of climate change, leaders of some of our nation’s most prominent businesses have taken a different approach. They formed the U.S. Climate Action Partnership. This was no collection of mom-and-pop shops operated by “tree huggers” sympathetic to any environmental cause but, rather, a step by hard-nosed, profit-driven capitalists. General Electric, Alcoa, Duke Energy, DuPont, Dow Chemical, Ford, General Motors and Chrysler signed on. USCAP, persuaded by scientific facts, called on the president and Congress to act, saying “in our view, the climate change challenge will create more economic opportunities than risks for the U.S. economy.”

There is a natural aversion to more government regulation. But that should be included in the debate about how to respond to climate change, not as an excuse to deny the problem’s existence. The current practice of disparaging the science and the scientists only clouds our understanding and delays a solution. The record flooding, droughts and extreme weather in this country and others are consistent with patterns that scientists predicted for years. They are an ominous harbinger.

The new Congress should have a policy debate to address facts rather than a debate featuring unsubstantiated attacks on science. We shouldn’t stand by while the reputations of scientists are dragged through the mud in order to win a political argument. And no member of any party should look the other way when the basic operating parameters of scientific inquiry – the need to question, express doubt, replicate research and encourage curiosity – are exploited for the sake of political expediency. My fellow Republicans should understand that wholesale, ideologically based or special-interest-driven rejection of science is bad policy. And that in the long run, it’s also bad politics.

What is happening to the party of Ronald Reagan? He embraced scientific understanding of the environment and pollution and was proud of his role in helping to phase out ozone-depleting chemicals. That was smart policy and smart politics. Most important, unlike many who profess to be his followers, Reagan didn’t deny the existence of global environmental problems but instead found ways to address them.

The National Academy reports concluded that “scientific evidence that the Earth is warming is now overwhelming.” Party affiliation does not change that fact.

The writer, a Republican, represented New York’s 24th District in Congress from 1983 to 2007. He is a special adviser to the Project on Climate Science.

Renewable Energy Rebates-Ameren UE-Federal Tax Incentive


Ameren UE Renewable Energy Rebate Program

Recently I was asked:

  • “Why does Ameren UE buy back the electricity created by Renewable Energy System on my House?”

When I directed the question to Ms L.Cosgrove[i] who handles the Local Ameren UE Renewable Energy Department.  She replied:

  • AmerenUE provides the MO Solar Rebate in response to Missourian’s passing Proposition C back in November, 2008[ii],[iii]”

In a nutshell it seems to me that Ameren UE will either have to build Renewable Energy Producing Systems or Purchase the Electricity that is made from Residents and Businesses to comply with the Law.
Which means that Ameren has a Stake in any Renewable Energy Sytem that produces Electricity and is Interconnected utilizing Net Metering to our / their Electircal Grid here in the St Louis Area.
Good News for all those who would like additional Monetary Incentives for Installing RE (Renewable Energy) Systems.
The Ameren Rebate and the Federal Tax Incentive can add up to as much as 2/3 of the cost of the RE System.
Click Here to Contact Scotty if any additional information is needed.

Posted by Scotty  Labels: , , , , , , , ,



[i] Lisa M. Cosgrove | Renewables Specialist  | 1901 Chouteau Avenue, MC 611 | St. Louis, MO 63103
314-554-2649 | fax 314-206-1387 | lcosgrove@ameren.com [ii] See http://www.sos.mo.gov/elections/2008petitions/2008-031.asp for more details.

[iii] 2008 Initiative Petitions
Approved for Circulation in Missouri

Amendment to Chapter 393 of the Revised Statutes of Missouri, Relating to Renewable Energy, version 4, 2008-031

THE PROPOSED AMENDMENT

Be it enacted by the people of the state of Missouri:Chapter 393, RSMo, is amended by repealing sections 393.1020, 393.1025, 393.1030, and 393.1035, and substituting therefor three new sections to be known as sections 393.1020, 393.1025 and 393.1030, to read as follows:393.1020. Sections 393.1025 to 393.1030 shall be known as the Renewable Energy Standard.393.1025. As used in sections 393.1020 to 393.1030, the following terms mean: 1. “Commission”, the public service commission; 2. “Department”, the department of natural resources; 3. “Electric utility”, any electrical corporation as defined by section 386.020; 4. “Renewable energy resources”, electric energy produced from wind, solar thermal sources, photovoltaic cells and panels, dedicated crops grown for energy production, cellulosic agricultural residues, plant residues, methane from landfills or from wastewater treatment, clean and untreated wood such as pallets, hydropower (not including pumped storage) that does not require a new diversion or impoundment of water and that has a nameplate rating of 10 megawatts or less, fuel cells using hydrogen produced by one of the above-named renewable energy sources, and other sources of energy not including nuclear that become available after the effective date of this section and are certified as renewable by rule by the department; and 5. “Renewable energy credit” or “REC”, a tradable certificate of proof that one megawatt-hour of electricity has been generated from renewable energy sources. 393.1030.1. The commission shall, in consultation with the department, prescribe by rule a portfolio requirement for all electric utilities to generate or purchase electricity generated from renewable energy resources. Such portfolio requirement shall provide that electricity from renewable energy resources shall constitute the following portions of each electric utility’s sales: (a) No less than two percent for calendar years 2011 through 2013; (b) No less than five percent for calendar years 2014 through 2017; (c) No less than ten percent for calendar years 2018 through 2020; and (d) No less than fifteen percent in each calendar year beginning in 2021.

At least two percent of each portfolio requirement shall be derived from solar energy. The portfolio requirements shall apply to all power sold to Missouri consumers whether such power is self-generated or purchased from another source in or outside of this state. A utility may comply with the standard in whole or in part by purchasing RECs. Each kilowatt-hour of eligible energy generated in Missouri shall count as 1.25 kilowatt-hours for purposes of compliance. 2. The commission, in consultation with the department and within one year of the effective date of sections 393.1020 to 393.1030, shall select a program for tracking and verifying the trading of renewable energy credits. An unused credit may exist for up to three years from the date of its creation. A credit may be used only once to comply with this act and may not also be used to satisfy any similar non-federal requirement. An electric utility may not use a credit derived from a green pricing program. Certificates from net-metered sources shall initially be owned by the customer-generator.  The… continues on web site


US Dept of Treasury,Payments for Specified Renewable Energy Property in Lieu of Tax Credits

Payments for Specified Energy Property in Lieu of Tax Credits

To view or print the PDF content on this page, download the free Adobe® Acrobat® Reader®

APPLY

The Treasury Department is now accepting applications for this program. To apply go to https://treas1603.nrel.gov/.

GUIDANCE

Posted here are the guidance document pdf icon, terms and conditions pdf icon, and sample application form pdf icon. All applicants should carefully review these documents prior to submitting an application.

ACCOUNTANT’S CERTIFICATION

The independent accountants’ requirements for the examination opinion attesting to the accuracy of costs (Attachment A) have been revised. We have added clarifying language that requires accountants to attest to the accuracy of costs on a test basis. Statements have been added regarding management’s and the practitioner’s responsibilities and we have added a “Report of Management on Eligible Cost Basis”.

Attachment B, Agreed-upon Procedures (AUPs), has been revised. If you have questions on the AUPs, please send them to 1603Questions@do.treas.gov

For properties placed in service having a cost basis in excess of $500,000, applicants must submit an Accountant’s Certification pdf icon.

ASSIGNMENT OF PAYMENTS

For information on assigning payments received under this program to a financial institution click on the following links:

* Assignment Information pdf icon

* Notice of Assignment pdf icon

IMPORTANT REMINDER

Applicants must be registered with the Central Contractor Registration (CCR). To register, go to http://www.ccr.gov/startregistration.aspx. This registration must be completed before a payment can be made.

Thank you for your interest in this program.

Questions. Please e-mail any questions you may have to 1603Questions@do.treas.gov. Please note that the purpose of the 1603 mailbox is to answer questions regarding how to apply for the 1603 program. This includes: how to submit an application, assign a payment, and prepare the independent accountant’s report. We also answer general questions regarding applicant and property eligibility. We cannot, however, answer questions that are more appropriately answered by tax accountants, lawyers and the Internal Revenue Service. This includes questions regarding what can and cannot be included in cost basis and whether or not certain business structures meet eligibility requirements. Also, we cannot confirm eligibility for specific projects.

If you have already applied for the Section 1603 payment and have questions on your application, or need technical support to up-load documents, change your password, or seek confirmation of additional up-loaded documents, please address those questions to: treas1603@nrel.gov.

US Dept of Treasury,Payments for Specified Renewable Energy Property in Lieu of Tax Credits

Payments for Specified Energy Property in Lieu of Tax Credits

To view or print the PDF content on this page, download the free Adobe® Acrobat® Reader®

APPLY

The Treasury Department is now accepting applications for this program. To apply go to https://treas1603.nrel.gov/.

GUIDANCE

Posted here are the guidance document pdf icon, terms and conditions pdf icon, and sample application form pdf icon. All applicants should carefully review these documents prior to submitting an application.

ACCOUNTANT’S CERTIFICATION

The independent accountants’ requirements for the examination opinion attesting to the accuracy of costs (Attachment A) have been revised. We have added clarifying language that requires accountants to attest to the accuracy of costs on a test basis. Statements have been added regarding management’s and the practitioner’s responsibilities and we have added a “Report of Management on Eligible Cost Basis”.

Attachment B, Agreed-upon Procedures (AUPs), has been revised. If you have questions on the AUPs, please send them to 1603Questions@do.treas.gov

For properties placed in service having a cost basis in excess of $500,000, applicants must submit an Accountant’s Certification pdf icon.

ASSIGNMENT OF PAYMENTS

For information on assigning payments received under this program to a financial institution click on the following links:

* Assignment Information pdf icon
* Notice of Assignment pdf icon

IMPORTANT REMINDER

Applicants must be registered with the Central Contractor Registration (CCR). To register, go to http://www.ccr.gov/startregistration.aspx. This registration must be completed before a payment can be made.

Thank you for your interest in this program.

Questions. Please e-mail any questions you may have to 1603Questions@do.treas.gov. Please note that the purpose of the 1603 mailbox is to answer questions regarding how to apply for the 1603 program. This includes: how to submit an application, assign a payment, and prepare the independent accountant’s report. We also answer general questions regarding applicant and property eligibility. We cannot, however, answer questions that are more appropriately answered by tax accountants, lawyers and the Internal Revenue Service. This includes questions regarding what can and cannot be included in cost basis and whether or not certain business structures meet eligibility requirements. Also, we cannot confirm eligibility for specific projects.

If you have already applied for the Section 1603 payment and have questions on your application, or need technical support to up-load documents, change your password, or seek confirmation of additional up-loaded documents, please address those questions to: treas1603@nrel.gov.

US Dept of Treasury,Payments for Specified Renewable Energy Property in Lieu of Tax Credits

New users:

Note: Eligible property under this program includes only property used in a trade or business or held for the production of income. Non business energy property, such as property used for residential purpose, does not qualify under this program.

Further requirements: If your organization falls under any of the below designations, you are not eligible for Section 1603 payments, and should not continue with the application process:

* Federal, State, or local government or any political subdivision, agency, or instrumentality thereof

* Organization described in section 501(c) of the Internal Revenue Code and exempt from tax under section 501(a) of such Code

* Entity referred to in paragraph (4) of section 54(j) of the Internal Revenue Code

* Partnership or pass-thru entity with a government or any political subdivision, agency, or instrumentality thereof, 501(c) organization, or 54(j)(4) entity as a direct or indirect partner (or other direct or indirect holder of an equity or profits interest)

* Foreign person or entity not qualifying for the exception in section 168(h)(2)(B) of the Internal Revenue Code with respect to the property

Instructions: Type your email address in the box below and click Register to set up your user name and password.

Email:

Email:

* Register

IMPORTANT: Please make sure you can receive communications from treas1603@nrel.gov from your email provider. This may entail reconfiguring you spam filter, adding this address to your “whitelist,” or asking your administrator to unblock this address.

US Dept of Treasury,Payments for Specified Renewable Energy Property in Lieu of Tax Credits

New users:

Note: Eligible property under this program includes only property used in a trade or business or held for the production of income. Non business energy property, such as property used for residential purpose, does not qualify under this program.

Further requirements: If your organization falls under any of the below designations, you are not eligible for Section 1603 payments, and should not continue with the application process:

* Federal, State, or local government or any political subdivision, agency, or instrumentality thereof
* Organization described in section 501(c) of the Internal Revenue Code and exempt from tax under section 501(a) of such Code
* Entity referred to in paragraph (4) of section 54(j) of the Internal Revenue Code
* Partnership or pass-thru entity with a government or any political subdivision, agency, or instrumentality thereof, 501(c) organization, or 54(j)(4) entity as a direct or indirect partner (or other direct or indirect holder of an equity or profits interest)
* Foreign person or entity not qualifying for the exception in section 168(h)(2)(B) of the Internal Revenue Code with respect to the property

Instructions: Type your email address in the box below and click Register to set up your user name and password.
Email:

Email:

* Register

IMPORTANT: Please make sure you can receive communications from treas1603@nrel.gov from your email provider. This may entail reconfiguring you spam filter, adding this address to your “whitelist,” or asking your administrator to unblock this address.