S. 1409

Technologies for Energy Jobs and Security Act of 2017

This bill amends the Internal Revenue Code to extend and modify tax credits for residential energy efficient property and investments in energy property.

The bill modifies the tax credit for residential energy efficient property to extend through 2021 the credits for expenditures for fuel cell property, small wind energy property, and geothermal heat pump property. For each extended credit, the bill phases out the current credit rate of 30% of expenditures by reducing it to 26% or 22%, depending on the date that the property is placed in service.

The bill extends the tax credit for investments in energy property for the following property with construction that begins before January 1, 2022:

• fiber-optic solar energy property,
• thermal energy property.
• fuel cell property,
• microturbine property,
• combined heat and power system property, and
• small wind energy property.

The bill phases out the current credit rate of 30% for investments in geothermal energy property, fiber-optic solar energy property, fuel cell property, and small wind energy property by reducing it to 26% or 22%, depending on the date that the property is placed in service.

The bill also allows an energy tax credit through 2021 for investment in waste heat to power property that does not have a capacity in excess of 50 megawatts. "Waste heat to power property" is property comprising a system which generates electricity through the recovery of a qualified waste heat resource.