diff --git a/setup.cfg b/setup.cfg
index 63f6d5249821ce56ff7f0275cd5160f5af6e4c17..bebfd02d35be69165387d83100fbe583cf1d4e54 100644
--- a/setup.cfg
+++ b/setup.cfg
@@ -1,5 +1,5 @@
 [bumpversion]
-current_version = 0.4.8
+current_version = 0.5.0
 commit = True
 tag = True
 
diff --git a/setup.py b/setup.py
index 903465d3da3a4af304586d03ed359bfad075b670..d8808e6b7ec456e143bfbe7f52f575780fb1409e 100644
--- a/setup.py
+++ b/setup.py
@@ -4,7 +4,7 @@ from setuptools import setup, find_packages
 
 setup(
     name="template",
-    version="0.4.8",
+    version="0.5.0",
     description="""A CLI tool for generating files from Jinja2 templates and
     environment variables.""",
     long_description=open("README.rst", "r").read(),
diff --git a/template/__init__.py b/template/__init__.py
index 4961c88cd8b123f24338a2d387b3c79159c6f40b..4fbe04c05a6fe0289e9b048fc6f02b899b7c04fc 100644
--- a/template/__init__.py
+++ b/template/__init__.py
@@ -16,7 +16,7 @@ import template.filters
 from jinja2 import Environment
 
 
-__version__ = "0.4.8"
+__version__ = "0.5.0"
 
 
 def render(template_string):