Renewable Fuel Equity Act

The Renewable Fuel Equity Act (H.R. 4668) was introduced in 2002 to expand federal tax incentives for a broader range of clean energy sources. The bill proposed extending the renewable resources credit to include geothermal, solar, incremental hydropower, and various types of biomass energy.

For citizens and small-scale energy producers, the bill aimed to make renewable energy more affordable by doubling the investment tax credit from 10% to 20% for smaller facilities with a capacity of less than one megawatt. By providing these financial incentives, the legislation sought to encourage the development of diverse renewable energy projects and reduce the overall cost of producing clean electricity.