Looks like transferability of tax credits is maintained.

Foreign Entity of Concern language is substantively different from House bill, but still applied throughout. Critical question: is this workable for industry to comply with? Safe harbor language clarified (good). Stay tuned...

In particular, elimination of clean electricity tax credits would remove a key driver of early EGS adoption and reduce the long-run benefits of successful scaleup. It is critical that these supports remain in place if emerging technologies like EGS are to achieve their full potential.

Long-term outcomes are sensitive to near-term deployment. Our findings suggest that efforts to facilitate early deployment and better understand uncertainties in enhanced geothermal’s cost and learning potential should be key near-term policy and development priorities.

Such a large role depends on substantial reductions in the cost of EGS wellfields, which we argue must be driven largely by advances in reservoir design.

...EGS could plausibly grow to contribute up to a fifth of total US electricity generation by 2050 and drastically reduce the cost electricity generation and decarbonization even east of the Mississippi – a much larger role for the technology than has been previously assumed.

We find that if a) EGS performance continues to improve incrementally in the near-term, b) supportive federal policies remain in place, and c) EGS costs fall with scale at a rate similar to unconventional oil and gas...

This means that we can explore the conditions under which EGS (or its competitors) could achieve ‘commercial liftoff’ through a virtuous cycle of increasing deployment and falling costs, and the long-run implications for the US electricity sector if it is able to do so.

This analysis uses an ‘experience curves’ framework to model the evolution of costs for EGS and other emerging technologies over time, assuming that – like wind, solar, batteries, and unconventional oil and gas before them – the cost of these technologies will fall with increasing deployment.

It first leverages data from recent pilot projects to develop the first empirically-grounded near-term cost projections for EGS power in the US, then uses these as inputs to an electricity system capacity expansion model to explore potential adoption pathways for EGS over the coming decades.

This paper builds on prior work to address two key questions: where and under what conditions could EGS deliver cost-competitive power in the near term, and to what extent could it contribute to electricity generation nationwide if it can be successfully brought to scale?