Alliance to Save Energy Hails Introduction of Bill to Extend Energy Policy Act Energy-Efficiency Tax Credits through 2010
Washington, D.C., March 14, 2006 – The creation of sustainable markets for energy-efficient homes and commercial buildings got a boost today with the introduction of a Senate bill to extend new federal tax credits authorized in the Energy Policy Act of 2005 through 2010, the Alliance to Save Energy said today.
S. 2401, the Alternative Energy Extender Act, was introduced today by Senators Charles E. Grassley (R-Iowa) and Max Baucus (D-Mont.), the chair and ranking member, respectively, of the Senate Finance Committee. “The Alliance commends the continuing bipartisan work in the Senate to ensure that energy efficiency and clean energy technologies become a cornerstone of meaningful energy policy in the United States,” said Alliance President Kateri Callahan.
Callahan continued: “The landmark energy-efficiency tax incentives included in the Energy Policy Act already are helping American consumers and businesses reeling from high energy prices, but in order for these incentives to transform the market, they must be in place for an adequate period of time. By extending the tax provisions for for new homes and commercial buildings for three years, the Grassley/Baucus bill, S. 2401, will ensure that our national investment fosters development of a long-term and sustainable market for energy-efficient products for the building sector.”
The Alliance maintains that the two-year window for the tax credits, which currently are set to expire at the end of 2007, is too brief a period to effect real market transformation and to make energy-efficient buildings the norm. Extending the tax credits through 2010 would allow more time to grow volume and thereby help to lower the initial purchase price.
Callahan concluded: “Commercial buildings and homes built today could last up to 100 years, so extending the tax credits long enough to give energy-efficiency a real foothold in the market will benefit our economy, environment, and energy security for generations to come.”