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Thermal Energy Bill May Emerge From Build Back Better

US

The current state of the climate and social care bill Build Back Better remains unclear but there is a likelihood that the climate portions of the package my be redrafted and presented to Congress for consideration.

  • One viable option for lawmakers is tax incentives for geothermal energy. The thermal energy sector claims that the research and development aspect of geothermal energy is too high for the private sector to adequately engage.
  • A smaller thermal energy bill from the remnants of Build Back Better could invigorate the thermal energy industry through USD$320 billion in tax incentives. An expansion of the industry would increase the number of projects outside of California and Nevada where 95 percent of US geothermal energy is currently produced.
  • This proposition has high-profile supporters including Senators Joe Manchin (D-WV), Catherine Cortez Masto (D-NV), and Mazie Hirono (D-HI).
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