Reid pledges to fight for geothermal funds

But in comments at a geothermal industry conference in New York, the Senate majority leader from Nevada added the bill likely will need bipartisan support, and if it fails to get that, “we’ll have to drop back.”

Reid, who determines the Senate’s schedule, said he planned to make climate change a priority, alongside health reform, Wall Street regulation and a jobs bill.

“We have a lot on our plate,” he said in prepared remarks. “But we are not so busy that we can’t find the time to address comprehensive energy and climate legislation.”

Sens. John Kerry, D-Mass.; Lindsey Graham, R-S.C.; and Joseph Lieberman, the independent from Connecticut, are trying to write a bill to limit greenhouse gases that could draw broad support.

Reid is a major advocate for geothermal, a resource that is abundant below the surface of Nevada but has yet to be fully tapped. He told members of the Geothermal Energy Association that as the climate bill is formed he will support federal funding for the industry to speed progress on “all types of geothermal resources.”

He said that includes opening up federal lands for geothermal drilling, and for improvements in transmitting electricity generated by the resource.

Reid also called for extending and expanding industry tax credits and beefing up loan guarantees offered by the Department of Energy.

“Nevada already has about 450 megawatts of conventional geothermal power in production,” Reid said. “In the next three to five years — with the right mix of incentives and policy — my state alone could add 64 new projects that would bring that number up to nearly 2,500 megawatts.”

Double that across the West, and “that’s a lot of clean power,” Reid said. “That’s a lot of jobs.”

Contact Stephens Washington Bureau Chief Steve Tetreault at stetreault@stephensmedia.com or 202-783-1760.