Jonathan Weisgall, VP of legislative and regulatory affairs at MidAmerican Energy Holdings Company, said: "We need to de-risk this industry. The tech costs have to come down for investors too, and all the time there is the spectre of low natural gas prices. But above all we need regulatory certainty."
The Energy Policy Act of 2005 extended the Production Tax Credit (PTC) to geothermal power projects after successfully kickstarting the US wind industry. Installed capacity for geothermal is around 10.7GW globally, approximately 3,000MW of which is located in the US. Last year, 123 projects were under development in the US and will receive the PTC if placed in service by the end of 2013.
