Royalties from geothermal production on state lands will drop from as much as 15% of gross revenue to 1.75% for the first decade of income-generating production, increasing to 3.5% from then on.
The rate is now the same as what developers pay for geothermal on federal lands.
“This legislation makes geothermal power projects economically viable and therefore more likely to produce more affordable and reliable electric power for homes and businesses,” says governor Sean Parnell.
The
