Extension of the tax credits for energy-efficient commercial buildings, homes, and appliances will save Americans money and reduce global warming pollution
The cheapest, cleanest, and quickest response to global warming and high natural gas prices is to target energy efficiency.
Studies have shown that energy efficiency is the most cost-effective way to reduce global warming pollution. Increasing energy efficiency also decreases natural gas consumption, helping to lower prices while also reducing pollution and saving consumers and businesses money on their energy bills.
The Energy Policy Act of 2005 (EPAct 2005) established tax incentives for energy-efficiency technologies. Congress extended these incentives in the Emergency Economic Stabilization Act of 2008 (H.R. 1424) enacted in early October.