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Energy Conservation - a Realistic Option Because of Real Incentives

 
July 11, 2001

In his continued effort to control the growth of energy demand and to support energy conservation, Congressman Zach Wamp joins Reps. Jay Inslee (D-WA) and Christopher Shays (R-CT) to introduce legislation that gives tax credits to people who conserve energy.

 

"We should not only encourage folks to conserve, but we must also make it more realistic for them to do so. With these tax incentives, using alternative energy sources will not only be more practical, but will also be more cost-effective than ever." said Wamp.

 

The Clean Energy Incentives Act gives specific tax credits when individuals or businesses choose more energy efficient facilities, automobiles and appliances.

 

Some of the tax credits that are provided include:

 tax credits to consumers who purchase advanced technology vehicles (fuel cell vehicles, hybrid vehicles, dedicated alternative fuel vehicles and battery electric vehicles) and alternative fuels;

 tax incentives to promote alternative power, such as wind, solar, biomass, geothermal and incremental hydropower;

 tax incentives for energy efficient and conservation technologies for commercial and industrial property, new homes, existing homes, and appliances.

 

"We know that we can not pump our way out of this energy crisis, nor can we conserve our way out, we must do both. These type of incentives give people the options and the resources to make energy conscious decisions -- without hurting production levels or lowering our quality of life. By using our tax code, this responsible legislation will advance conservation techniques so our country can lead the world in energy solutions and technology development," said Wamp.

 

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