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Republicans Advocate Geothermal Tax Incentives Amid Clean Energy Slowdown

6/15/2025

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Left

Wright Advocates Geothermal

As electricity demand surges, some Republicans, led by U.S. Energy Secretary Chris Wright, are pushing to keep tax incentives for geothermal energy. While solar and battery storage continue to thrive, companies dependent on consumer subsidies are struggling. Clean energy installations, especially solar, will continue, but growth will be slower than anticipated in the U.S.

Center

Republicans Push Energy Reform

Republican lawmakers are rallying for a shift in the energy tax code, proposing a "commence construction" provision to replace the existing "placed in service" requirement. They claim the House's 60-day timeline jeopardizes ongoing projects and jobs. Meanwhile, clean energy advocates caution that eliminating tax credits could result in substantial job losses and soaring utility costs nationwide.

History

Historical Context

The Energy Policy Act of 2005, signed by President George W. Bush, aimed to address U.S. energy challenges by providing tax incentives for renewable energy, leading to a 500% increase in installations by 2020. As Republicans propose changes to these incentives, concerns about potential job losses and rising utility costs highlight the ongoing struggle to balance energy policy with economic stability in the clean energy transition.

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Wright Advocates Geothermal

As electricity demand surges, some Republicans, led by U.S. Energy Secretary Chris Wright, are pushing to keep tax incentives for geothermal energy. While solar and battery storage continue to thrive, companies dependent on consumer subsidies are struggling. Clean energy installations, especially solar, will continue, but growth will be slower than anticipated in the U.S.

1 / 3