Three major energy credits are available to taxpayers in 2010. Research and discuss these credits. Why were these enacted? Are the credits refundable?© BrainMass Inc. brainmass.com June 4, 2020, 2:40 am ad1c9bdddf
1. The energy-efficient vehicles credit (also called the hybrid tax credit).
2. The tax credit for energy-efficient home improvements.
3. The solar, wind, and geothermal property credit.
1. This credit is for people who purchase a new hybrid vehicle for business or personal use purposes. The credit for 2010 was based on the fuel economy of the vehicle and a scale that related to weight class. A few models hit phaseouts, which means that so many of a certain model's hybrid was sold that the ...
The solution provides an extensive discussion regarding the three major energy credits that are available to taxpayers, including why the credits were enacted and if each credit is a refundable tax credit.