Geothermal Rising Applauds Senate Draft Extending Tax Credits, Launches Push for Final Passage

Geothermal Rising backs Senate draft extending full geothermal 45Y/48E tax credits through 2033 (phase-down 2036) and urges swift passage for 24/7 clean power.

WASHINGTON DC, DC, UNITED STATES, June 17, 2025 /EINPresswire.com/ -- Geothermal Rising today voiced strong support for the Senate Finance Committee’s draft Clean Energy and Healthy Communities title of the American Families and Workers Act of 2024, which would keep the full Section 45Y production and Section 48E investment tax credits for geothermal projects in place through 2033, with a phase-down ending in 2036.

“Capital follows reliability. Stable, decade-long incentives are the catalyst our industry needs to bring 24/7, zero-carbon power onto the grid,” said Bryant Jones, executive director of Geothermal Rising. “With this runway, developers can commit capital, utilities can plan portfolios and American workers can put proven subsurface skills to work.”

The nonprofit association said it will continue briefing senators, mobilizing grassroots supporters and coordinating with industry partners to preserve the geothermal language during committee markup and the upcoming Senate floor vote.

“The draft acknowledges geothermal’s unique reliability value,” said Vanessa Robertson, director of community engagement for Geothermal Rising. “We’ll work with lawmakers in both chambers to ensure this provision reaches the president’s desk unchanged so communities nationwide can tap the heat beneath their feet.”

Legislative path
The Finance Committee is scheduled to mark up the draft this week. After a full Senate vote, the bill would move to the House Ways and Means Committee for consideration of energy-tax provisions.

About Geothermal Rising
Geothermal Rising is the world’s largest nonprofit association dedicated to advancing geothermal energy for heating, cooling and electricity generation. Founded in 1971, the organization convenes industry leaders, researchers, policymakers, and communities to accelerate geothermal deployment and foster a sustainable energy future. Visit geothermal.org for more information.

Brandy Obvintsev
Geothermal Rising
+1 281-222-7277
email us here
Visit us on social media:
LinkedIn

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.