The bill includes incentives for consumers to be better conservers of energy. If you own a home, you can receive new tax credits to install energy-efficient windows and appliances. If you're in the market for a car, this bill will help you save up to $3,500 on a fuel-efficient hybrid or clean-diesel vehicle. And the way the tax credit works is that the more efficient the vehicle is, the more money you will save.
The bill I sign today will help diversify our energy supply by promoting alternative and renewable energy sources. The bill extends tax credits for wind, biomass, landfill gas and other renewable electricity sources. The bill offers new incentives to promote clean, renewable geothermal energy. It creates a new tax credit for residential solar power systems. And by developing these innovative technologies, we can keep the lights running while protecting the environment and using energy produced right here at home. When you hear us talking about less dependence on foreign sources of energy, one of the ways to become less dependent is to enhance the use of renewable sources of energy.
The bill also will lead to a greater diversity of fuels for cars and trucks. The bill includes tax incentives for producers of ethanol and biodiesel. The bill includes a flexible, cost-effective renewable fuel standard that will double the amount of ethanol and biodiesel in our fuel supply over the next seven years. Using ethanol and biodiesel will leave our air cleaner. And every time we use a home-grown fuel, particularly these, we're going to be helping our farmers, and at the same time, be less dependent on foreign sources of energy.
The bill I sign today also includes strong support for hydrogen fuel technology. When hydrogen is used in a fuel cell, it can power consumer products from computers to cell phones to cars that emit pure water instead of exhaust fumes. I laid out a hydrogen fuel initiative, and I want to thank the members of Congress for adding to the momentum of this initiative through this energy bill.