U.S. GEA releases new report on geothermal leasing laws & revenues

Alexander Richter 18 Jan 2009

According to a new report issued today by the Geothermal Energy Association (GEA), changes made in 2005 to federal geothermal leasing laws are bringing in millions of new and additional dollars to federal, state, and county government coffers. In just two years, FY 2007 and FY 2008, $82 million in new revenues were generated by geothermal activities, according to GEA. Report available for download here (PDF)

One of the most novel developments from the Energy Policy Act of 2005 was the distribution of funds directly to county governments: $4.3 million in 2007 and $9.1 million in 2008. Local governments used these new funds to support departments impacted directly or indirectly by geothermal development, such as public services, emergency services, and roads and bridges, according to the report.

Future trends appear to indicate that this geothermal windfall to the federal, state, and local governments
will continue. It would appear that federal, state, and county revenues should continue to increase and their distribution to more counties and states expand as additional areas are leased and developed in the future, commented Timothee Neron-Bancel, GEA Research Assistant and author of the report.

Source: GEA press release