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The FREE Act:

Freedom through Renewable Energy Expansion

Short Summary

Promote the Production and Use of Renewable Energy

  • Create a 20 percent Federal Renewable Portfolio Standard
  • Strengthen the federal energy purchase requirementCreate a school renewable energy grant program
  • Extend renewable electricity Production Tax Credit (PTC) for five years 
  • Extend and modify the Investment Tax Credit (ITC) for solar, fuel cell and geothermal properties
  • Extend the Investment Tax Credit (ITC) for residential energy efficient properties
  • Create a small wind Investment Tax Credit (ITC)

Fund Renewable Energy Research

  • Fund geothermal research

Require Energy Efficiency

  • Raise average fuel economy standards to 33 mpg by 2015

Repeal Subsidies to the Oil, Gas, and Nuclear Industries

  • Repeal certain provisions in the Energy Policy Act of 2005 regarding the nuclear industry, saving about $3.5 billion 
  • Repeal certain tax break provisions in the Energy Policy Act of 2005 regarding the oil and gas industries, saving about $2.6 billion
  • Repeal certain other provisions in the Energy Policy Act of 2005 regarding the oil and gas industries, saving about $6.8 billion  
  • Repeal provisions in federal law that exempt oil and gas companies from paying royalties or reduced fees for drilling on public lands, saving $5.8 billion     
 

 

439 Cannon HOB
Washington, DC 20515
Phone - (202) 225-5965
Fax - (202) 225-3119
2340 Paseo Del Prado, Suite D-106
Las Vegas, NV 89102
Phone - (702) 220-9823
Fax - (702) 220-9841
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