Energy Tax Incentives for 2006/2007
01/23/2006

In 2005 Congress passed into law the Energy Policy Act – nine-years-in-the-making legislation. The new law includes rules about all kinds of energy for all kinds of purposes in a document that runs 1,724 pages and weighs about 5 pounds.

The act has also provided for new tax incentives – tax incentives to help the business as well as the residential consumer.

As you prepare your 2005 taxes it would be to your benefit to know more about these tax incentives you will be able to claim for 2006.

There are all kinds of tax credits a residential consumer will be able to claim if energy conservation efforts are made on the home, and even if a more fuel-efficient automobile is purchased.

From just adding caulk to buying a high efficiency heating/cooling system, the average consumer could claim hundreds of dollars. The tax incentive program on purchases runs from January 1, 2006 to December 31, 2007.

To find out more detailed information about what amounts you will be able to deduct take a look at www.energytaxincentives.org. This web site is being sponsored by the Tax Incentives Assistance Project (TIAP), a coalition of public interest nonprofit groups, government agencies, and other organizations in the energy efficiency field. The site is designed to give consumers and businesses information they need to make use of the federal income tax incentives for energy efficient products and technologies passed by Congress as part of the Energy Policy Act of 2005.

Kentucky Association of Electric Cooperatives, Inc. 4515 Bishop Lane * Louisville, KY  40218 502-451-2430 * FAX: 502-459-3209 Terms of Use