Washington, D.C. [RenewableEnergyAccess.com] Despite removal of a Renewable Portfolio Standard, Production and Tax Credits, the Senate passed Energy Bill will advance geothermal research and development for decades to come according to the Geothermal Energy Association (GEA).
The Senate passed bill includes the “Advanced Geothermal Energy Research and Development Act of 2007.” The underlying bills were H.R. 2304, sponsored by Rep. Jerry McNerney (D-CA) and S.1543 introduced by Senate Energy Committee Chairman Jeff Bingaman (D-NM).
Both had bipartisan co-sponsorship and support. The final provisions direct the Department of Energy to undertake a broad and aggressive research program to promote geothermal energy and authorize a total of $95 million annually for this new initiative.“The geothermal provisions come at a crucial time in the history of the industry. Renewed research, development, and public-private partnerships are needed to continue the momentum we’ve seen in the past few years,” said Karl Gawell, GEA’s Executive Director. “We applaud Speaker Pelosi and Leader Reid for their overall accomplishment. This energy bill shows the tide is turning.”