USA: Hope for Geothermal Energy in Tax Bill Amendments

Amendments to Senate Tax Bill by Dean Heller

Sen. Dean Heller

Contrary to reports that "orphaned tech" like geothermal energy was not being considered in the current Tax Bill by the US Congress, Sen. Dean Heller (R) of Nevada has suggested amendments that would level the playing field for geothermal power.

Heller Amendment #3 to the Tax Cuts and Jobs Act - Technologies for Energy Jobs and Security Act

Provides parity for geothermal power with solar power, allowing a 30 percent investment tax credit for commercial geothermal projects that begin construction during calendar years 2017, 2018, and 2019—phasing down to 26 percent for projects in 2020, 22 percent for 2021, and returning to the prior rate of 10 percent after December 31, 2021.

Heller Amendment #4 to the Tax Cuts and Jobs Act - To provide a level playing field for geothermal power by reinstating a 30-percent credit rate for geothermal energy property.

Amendments Document (PDF)..........