CHP Partnership Releases Fact Sheet on New CHP Investment Tax Credit

Thu., Nov 13, 2008 On October 3, 2008, President Bush signed into law the Emergency Economic Stabilization Act of 2008. In addition to authorizing the United States Secretary of the Treasury to spend up to $700 billion to purchase distressed assets, especially mortgage-backed securities, from the nation's banks, the law extends existing tax credits for renewable energy initiatives—including cellulosic ethanol and biodiesel development, and wind, solar, geothermal and hydro-electric power—and creates a new 10 percent investment tax credit (ITC) for CHP and waste energy recovery systems. The CHP ITC is a 10 percent tax credit for the first 15MW of a system up to 50MW. The CHP ITC extends from the date of enactment through December 31, 2016. The energy tax piece, including the CHP ITC, is in Division C of the final bill, HR 1424 (http://thomas.loc.gov/cgi-bin/query/z?c110:H.R.1424.enr:).

The CHP Partnership developed a fact sheet that discusses the details of the new CHP ITC as well as the new Renewable Energy Production Tax Credit. The fact sheet can be downloaded (http://www.epa.gov/chp/documents/chp_itc.pdf) from the CHP Partnership Web site.

CHP Partnership Contact Information

U.S. Environmental Protection Agency
Fax: 202-343-2208
Web site: www.epa.gov/chp

Felicia Ruiz (ruiz.felicia@epa.gov) 202-343-9129

©2008 EPA CHP Partnership