Under the Emergency Economic Stabilization Act, Congress has included some important tax items that could be put into use by owners and developers of investment real estate.   The bailout law has come up with generous tax credits for properties that qualify under the federal government’s definitions of “energy efficient” houses.

For the next eight years, the bill has extended a 30 percent federal tax credit for anyone who builds or renovates properties using “alternative energy” features like solar panel applications.  The bill has also removed the previous $2,000 tax credit cap for residential solar electric installations.

Apart from solar installations, investors can also consider what the Congress calls “small wind power” instillations” into existing or new commercial constructions and residential properties.  They qualify for a 30% tax credit, up to $4000, for wind turbines with capacities of 100 kilowatts or less.

The bill has also included federal tax credit for fuel cells and micro turbines.  The fuel tax credit limit is tripled, to $1000 for each half kilowatt of capacity.  The law also allows a 10% tax credit for certain combined heat and power systems.

The law has extended the energy efficient tax credit to both commercial and residential real estate through 2013.  The government’s definition of “energy efficient” houses takes into consideration everything from green building materials, lighting, heating, air conditioning and household appliances.

In addition to all that, you also get up to$7,500 tax credit when you drive around in hybrid vehicles!  With the introduction of such beneficial tax credits, the law has made a move in motivating public to shit to a more eco-friendly and fuel-efficient lifestyle.  This measure is sure to interest investors, who, by adopting energy efficient techniques will not only receive tax benefits but contribute in improving the condition of the environment for good.