Tax credits in doubt for geothermal projects

Closed-Loop Systems | Geothermal Rising :: Using the Earth to Save the Earth

 

While the University of Oklahoma recently received a federal grant to develop geothermal heat from oil and gas wells near schools in Tuttle, there remains a big question of continued funding by Congress.

Some $84 million in funding for  geothermal demonstration projects was included in the bipartisan infrastructure package passed last fall. But continued funding and hundreds of billions of dollars in tax incentives and researching funding in the controversial

Backers in Congress included geothermal energy in the bipartisan infrastructure package passed last fall that devoted $84 million for demonstration projects. And supporters say the hundreds of billions of dollars in tax incentives and research funding in the Build Back Better Act could help propel it into the mainstream. However, that’s in limbo for now.

Click here to learn more from POLITICO about the debate over tax credits for geothermal energy projects.

 

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