US Geothermal Tax Credits in 2026: What Is Actually Still Alive After OBBBA For an industry that spent more than a decade building financial models around a stable federal incentive structure, 2026 has been a year of whiplash. The 30% federal geothermal tax credit that developers and homeowners built forecasts around is gone in one form and still alive in another, and even the IRS’s own public guidance has been confusing enough to trigger uncertainty across the market. That confusion is not a minor clerical issue. It is shaping investment decisions, contractor sales pitches, homeowner timelines, and project finance assumptions right now. If you work in geothermal, the key question is no longer whether federal incentives exist, but which incentive applies, to which project type, and under what ownership structure. The law that changed the timeline To understand where things stand in 2026, you have to start with the Inflation Reduction Act of 2022, which created a long runway for clean e...
Iceland Launches First High-Temp Slimhole Well in 15 Years — A New Era for Geothermal Discovery Begins
Iceland Launches a New High-Temperature Slimhole Well After 15 Years: A Major Leap for Geothermal Exploration
Iceland has once again taken a bold step in strengthening its geothermal leadership, as Orkuveitan announced the commencement of its first exploration well in over 15 years. This milestone marks the beginning of a new chapter for geothermal innovation in the Meitlar area—one that blends scientific precision, sustainability, and future-focused energy development.
The newly launched well is no ordinary project. It is a high-temperature slimhole designed to reach depths of 1,500 meters, allowing geoscientists to test the presence, behavior, and potential of the geothermal system hidden beneath the Meitlar landscape. This well represents years of planning, rigorous geological studies, and persistent pursuit of clean-energy solutions.
According to the project team, this initiative is a key element of Orkuveitan’s New Energies department, which works tirelessly to ensure a safe and sustainable energy supply for Iceland’s rapidly growing demand for both hot water and electricity. The project required close to three years of preparation, and now stands as a significant turning point for the region.
But this is just the beginning.
Orkuveitan has confirmed that this well is the first of several exploration wells planned for the area. Each well will contribute to understanding the geothermal dynamics of Meitlar while reinforcing Iceland’s position as a global pioneer in clean and renewable energy development.
With advancements in drilling technologies and geothermal exploration strategies, Iceland continues to inspire the world—demonstrating how commitment to innovation can secure a greener, more energy-resilient future.
Stay tuned as more wells are drilled and new data unfolds from this ambitious program. The next era of geothermal discovery in Iceland is officially underway.
Source:LinkedIn

Comments
Post a Comment