Biomass refers to trees, crops and agricultural wastes used to produce power, fuels or chemicals. Extend current closed-loop biomass credit of 1.5 cents per kilowatt hour for 2.5 years. Add a 0.5 cent per kilowatt hour tax credit for electricity produced by cofiring biomass in coal plants from 2001-2005. In Promoting Energy Efficiency And Alternative Energy Technologies. In addition to providing tax credits to promote domestic oil production and energy efficiency, the President and Vice President have already presented budget requests for appropriations that will further promote energy security.
People understand what that means for their home heating bill.
Our budget proposes expanding DOE s Weatherization Assistance Program, which helps low-income households make their homes more energy efficient. These are the Americans that most need to reduce monthly energy costs. This program has already weatherized almost 5 million low-income homes and is saving 3.0 million barrels of oil each year. With funding from DOE and the states, we plan to add more than 150,000 homes to the list in the next year which will save more than an additional 91,000 barrels of oil per year. Our Partnership for a New Generation of Vehicles is on track to deliver attractive, affordable cars that get up to three times the fuel efficiency of today s cars.