Energy tax credits

The recently enacted American Recovery and Reinvestment Act of 2009 (the 2009 economic stimulus act) includes a package of tax incentives to encourage investments in renewable energy projects or more-efficient technologies. The new law includes or expands the following credits:

• Energy property credit for qualified energy-efficient equipment or building components installed in the taxpayer's principal residence
• Credits for plug-in electric vehicles
• Renewable energy production credit for wind facilities and other sources

For more information on these and other energy tax incentives in the new law, visit: http://www.journalofaccountancy.com/Web/20091531.htm