The Energy Policy Act of 2005
On Monday, August 8th, President Bush signed into law the Energy Policy Act of 2005, the first national energy plan in more than a decade. Rep. Joe Barton (R-TX), Chair of the House Committee on Energy and Commerce, released a statement saying, in part, “This energy bill is about America’s future. It is well-crafted policy based on the free market with appropriate government oversight. It’s a balanced bill and will move America toward energy independence.” For Barton’s entire statement, go to http://energycommerce.house.gov/108/News/08082005_1620.htm

Major provisions of the new energy plan include the following:
* Modernizing the domestic energy structure by offering tax incentives for new transmission construction, encouraging the development of new technologies to make the power grid more efficient and repealing rules which discourage investment in new infrastructure.
* Diversifying the national energy supply by promoting the use of renewable energy sources with tax credits for biomass, solar and wind energy, and expanding research into the development of hydrogen technologies (see related story, below). Additionally, the plan establishes a national renewable fuels standard to encourage the use of ethanol and biodiesel fuels.
* Providing up to $3,400 per vehicle in tax credits for the purchase of energy-efficient, clean-diesel and fuel-cell vehicles to help reduce U.S. dependence on foreign energy sources.
* Setting new minimum energy efficiency standards for a range of products including heaters, refrigerators and lighting units. Also included are tax credits for efficient air conditioners, heat pumps and water heaters.

For more information on the bill signed by the President, go to http://www.whitehouse.gov/