Energy Efficiency Cornerstone Act of 2005 - Amends the Energy Policy and Conservation Act (EPCA) to expand the scope of products encompassed within the Energy Conservation Program for Consumer Products Other Than Automobiles, including testing requirements and energy conservation standards for additional consumer and commercial products.
Amends the Energy Conservation and Production Act (ECPA) to set forth additional funding incentives for state building energy efficiency codes.
Amends the National Manufacturing Housing Construction and Safety Standards Act of 1974 to subject its energy conservation standards to the most recent version of the International Energy Conservation Code.
Amends the Cranston-Gonzalez National Affordable Housing Act to subject energy efficiency standards and a model energy code to the 2004 International Energy Conservation Code.
Amends EPCA to establish within the Department of Energy and the Environmental Protection Agency a voluntary program to identify and promote energy-efficient products and buildings through voluntary labeling of, or other forms of communication about, products and buildings that meet the highest energy efficiency standards.
Amends the ECPA to: (1) subject federal building performance standards to the 2004 International Energy Conservation Code; and (2) require all housing constructed under the military housing privatization initiative of the Department of Defense to be Energy Star qualified and equipped with Energy Star appliances and FEMP designated appliances, including Energy Star lighting.
Amends EPCA and the Energy Policy Act of 1992 to modify compliance requirements governing alternative fuel use by light duty federal vehicles.
Amends federal transportation law to modify standards for executive agency automobiles.
Directs the Secretary of Energy (Secretary) to enter into voluntary agreements with entities in industrial sectors that consume significant quantities of primary energy for each unit of physical output to reduce the energy intensity of their production activities.
Instructs the Secretary to establish a financial assistance pilot program for state implementation of pilot projects for energy efficiency programs and reduction of consumption of electricity or natural gas.
Amends the Public Utilities Regulatory Policy Act of 1978 to require a state regulatory authority or non-regulated utility to implement an energy efficiency resource program to reduce consumer electricity or gas consumption.
Amends the Internal Revenue Code to set forth business related credits for: (1) construction of new energy efficient homes; (2) energy efficiency improvements to existing homes; and (3) energy efficient appliances.
Allows as a deduction from gross income: (1) an amount equal to the cost of energy efficient commercial building property placed in service during the taxable year; and (2) certain energy efficient property used in business and residential rental property.
Establishes a tax credit for: (1) energy efficient building property expenditures; (2) installation of qualified fuel cells; and (3) qualified fuel cell motor vehicles and hybrid motor vehicle.
Revises requirements for the energy credit for combined heat and power system property.