Geothermal could hit jackpot in Nevada

The measures will allow geothermal energy to qualify as a source for incentives. The incentives will involve a 50 percent property tax break for 10 years to geothermal energy companies that are intending to operate or come to Nevada. The geothermal plants which will most likely be small scale will also be able to earn renewable energy credits which will count towards the goal of achieving 20 percent power generation from renewable energy sources by 2020.

The credits can be sold to large scale utilities or those needing to balance their renewable energy portfolio. The credit scheme will see companies earn one credit for each kilowatt hour of electricity generated from renewable sources. Pricing schemes are at this point confidential. Although the credit trading and selling model will be small scale it will no doubt serve as a good lesson for future schemes of this type.