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Signed into law on August 8, 2005, the Energy Policy Act of 2005 (EPAct) focuses on clean energy, efficient energy use, energy conservation, and advanced technologies.

EPAct initiated a wide range of actions, including the authorisation of tax credits and incentives which included $1.65 billion in tax credits to spur investment in advanced clean coal facilities, and a further $350 million in tax credits for advanced gasification projects.

Assistant secretary for DOE Fossil Energy Jeffrey Jarrett said the number and range of proposed projects demonstrates industry's willingness to embrace tomorrow's technologies, today.

“The combination of government incentives and private-sector innovation will harness America’s technological strength to ensure secure, affordable, and reliable energy,” he said.

A total of 49 applications have been received from 29 states proposing projects worth $57.7 billion in total, resulting in $5 billion in tax credits.

The DOE and the Internal Revenue Service (IRS) will evaluate the proposed projects for technical and economic feasibility and for consistency with energy policy goals. The IRS expects to make final selection by November 30, 2006 with project applicants receiving their notice for eligibility of the tax credit by the IRS shortly thereafter.

When signing the Act into law last year, President Bush said EPAct “launches an energy strategy for the 21st century” and “will allow America to make cleaner and more productive use of our domestic energy resources, including coal, and nuclear power, and oil and natural gas.

“By using these reliable sources to supply more of our energy, we'll reduce our reliance on energy from foreign countries.”