Climate Change Technology Initiative: $4.0 Billion in Tax Incentives

Office of the Press Secretary

For Immediate Release February 3, 2000

Climate Change Technology Initiative:
$4.0 Billion in Tax Incentives

The President is proposing a new $4.0 billion package in tax incentives over five years to help reduce greenhouse gas emissions by spurring the purchase of energy efficient products and the use of renewable energy (see Table 2).

Table 2. CCTI Tax Incentives ($ in Millions) Revenue Effect     



  FY 2001 Total FY01-05
Homes and Buildings    
Provide tax credit for energy efficient building equipment -18 -201
Provide tax credit for new energy efficient homes - 82 -633
Provide tax credit for solar energy systems -9 -132
Extend tax credit for electric and fuel cell vehicles and provide tax credits for qualified hybrid vehicles 0 -2078
Clean Energy    
Extend tax credit for electricity produced from wind and closed- loop biomass; provide credits for open-loop biomass facilities and coal-biomass cofiring; and provide credits for methane from certain landfills -91 -976
Provide 15-year recovery period for distributed power property -1 -10
TOTAL** -201 -4030
**Total may not add due to rounding.    





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