Wednesday, April 11, 2007

U.S. increases geothermal tax credit

From Raser Technologies via Business Wire...
Up from 1.9 to 2.0 cents per kilowatt hour

"Raser Technologies, Inc. (RZ) announced today that the U.S. Treasury and Internal Revenue Service released the 2006 Inflation Adjustment Factor (IAF) as it relates to Section 45 of the Internal Revenue Code. This annual adjustment increases the amount of tax credit available for geothermal and other qualified energy projects from 1.9 cents per kwh to 2.0 cents per kwh. The IAF adjustments are implemented annually.

The Company has announced its intention to develop geothermal projects utilizing advanced binary heat recovery systems. “We believe that this increase will help to further stimulate the development of geothermal resources in the United States,” said Brent M. Cook, CEO.

This and other incentives should assist in moving our nation towards greater energy independence. We believe that the energy policy of the United States should continue to emphasize clean, renewable energy sources and provide incentives for their development.”

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