Economic Valuation of a Geothermal Production Tax Credit

Abstract

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Geothermal Exploration Policy Mechanisms: Lessons for the United States from International Applications

“…In the 1970s, geothermal projects struggled to access commercial loans because lenders were reluctant to invest in an unfamiliar technology (Owens 2002 (Bloomquist et al 2005;DOE GTP 2012b). 11 It was created to address this reluctance among private industry investors by having the federal government share the risk of early-stage geothermal project development (Owens 2002).…”

“…11 It was created to address this reluctance among private industry investors by having the federal government share the risk of early-stage geothermal project development (Owens 2002). The program, which came into effect June 25, 1976, was the first loan guarantee in the United States to support the development of energy resources (Nasr 1978).…”

Wind and Energy Markets: A Case Study of Texas

“…To translate the tax credit into the equivalent value in pre-tax dollars, we must consider the change in pre-tax earnings that would be equivalent to the tax credit. The following analysis paraphrases appendix B of [18]. Suppose that the tax rate is t and that an entity has k dollars of pre-tax earnings, resulting in (1 − t)k of after-tax earnings.…”

Subsidies for electricity-generating technologies: A review

“…First enacted in 1992 (Owens, 2002;Snyder and Kaiser, 2008), the PTC has expired many times since 2000 before being approved again by Congress. Each expiration of the PTC caused a plateau in the growth of the wind energy industry (Fig.…”