Harnessing Energy At Thermal Sources Act (H.R. 7409)
Bill Summary
The Harnessing Energy At Thermal Sources Act (H.R. 7409) is a bill introduced in the United States House of Representatives on June 15, 2023, by Representatives Schrier (D-WA) and Waltz (R-FL).
The bill aims to support the development of geothermal energy in the United States by providing incentives for companies to invest in geothermal projects. Geothermal energy is a clean and renewable source of energy that can be used to generate electricity and heat homes and businesses.
Key Provisions
- Tax credits: The bill would provide tax credits for companies that develop geothermal projects. These credits would be based on the amount of electricity generated or heat produced by the project.
- Loan guarantees: The bill would also provide loan guarantees for companies that develop geothermal projects. These guarantees would help companies to obtain financing for their projects.
- Research and development: The bill would authorize funding for research and development (R&D) on geothermal energy technologies. This R&D would help to advance the development of geothermal energy and make it more affordable and efficient.
Benefits of the Bill
The Harnessing Energy At Thermal Sources Act would have several benefits, including:
- Increased energy independence: By developing geothermal energy resources, the United States could reduce its dependence on foreign oil and gas.
- Reduced greenhouse gas emissions: Geothermal energy is a clean source of energy that does not produce greenhouse gases. This would help the United States to meet its climate change goals.
- Economic growth: The development of geothermal energy could create jobs and boost economic growth.
Status of the Bill
H.R. 7409 has been referred to the House Committee on Energy and Commerce. It has not yet been scheduled for a vote by the full House of Representatives.
Conclusion
The Harnessing Energy At Thermal Sources Act is a bipartisan bill that would support the development of geothermal energy in the United States. The bill would provide tax credits, loan guarantees, and funding for R&D on geothermal energy technologies. These incentives would help to make geothermal energy more affordable and efficient, and would help the United States to increase its energy independence and reduce its greenhouse gas emissions.
H.R. 7409 (RH) – Harnessing Energy At Thermal Sources Act
The AI has provided us with the news.
I’ve asked Google Gemini the following question, and here’s its response.
Congressional Bills a new article on 2024-11-02 05:35 titled “H.R. 7409 (RH) – Harnessing Energy At Thermal Sources Act”. Please write a detailed article on this news item, including any relevant information. Answers should be in English.
16