Public Spending Drives Robust Growth in U.S. Geothermal Projects. By Michael Burnham, Greenwire, April 13, 2010. "The number of U.S. geothermal projects under development grew 26% last year, as the economy clawed back from recession, according to a report released today by a geothermal trade group. The 188 projects in 15 states could produce as much as 7,875 megawatts, the Geothermal Energy Association report notes. The association attributed the growth to a combination of state renewable energy portfolio standards, federal investment tax credits, and direct investments through the American Recovery and Reinvestment Act. The $787 billion federal stimulus, which was signed into law 14 months ago, will result in more than $600 million of technology research at 135 projects in 25 states during the next two years, according to the report. The law's Section 1603 provides a more immediate stimulus -- a cash payment in lieu of a tax credit totaling 30% of a project's cost."
2010-04-26
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