Additional economic calculations (tax revenue/royalties/jobs)

[malcolm-dsider]

Additional low-priority suggestion from a user:

1) [ ] Calculate the tax revenue generated by a geothermal project. Per Geothermal Rising: "Over the course of 30 to 50 years an average 20 MW facility will pay nearly $6.3 to $11 million dollars in property taxes"[^1] 2) [ ] Calculate the royalties that need to be paid to land owner (and add them to the OPEX). Per Geothermal Rising: "Over the course of 30 to 50 years an average 20 MW facility will pay [...] $12 to $22 million in annual royalties. Seventy-five percent of these royalties ($9.2 to $16.6M) go directly back to the state and county."[^1] 3) [ ] Calculate the number of jobs that would be created by a project

1. [X] Geothermal Rising Job Estimate Correlation: https://github.com/NREL/GEOPHIRES-X/pull/247
2. [ ] JEDI: https://github.com/NREL/GEOPHIRES-X/issues/221

[^1]: Geothermal Rising: Geothermal Basics

[kfbeckers]

The NREL tool is called JEDI: https://www.nrel.gov/analysis/jedi/geothermal.html

[malcolm-dsider]

1) Geothermal plants generate very little tax revenue—for example, it is against federal law to charge sales tax on energy. Most value to a taxing entity would come indirectly via jobs added and taxes on subsidiary transactions (like meals sold to employees at a nearby restaurant). Maybe property taxes? The code can handle that with "Annual License Fees Etc", "One-time Flat License Fees Etc", "Other Incentives", "Tax Relief Per Year", and "One-time Grants Etc" 2) The Add-on module can already handle fixed royalty payments as one-time or annual payments with parameters like "The code can handle that with "Annual License Fees Etc," "One-time Flat License Fees Etc," "Other Incentives," "Tax Relief Per Year," and "One-time Grants," etc. It cannot handle royalties based on energy generation. To go further, I need to know more about how lease contract terms will be written. 3) Incorporating JEDI into GeOPHIRES is a much larger project - needs to be discussed and tracked separately.

[softwareengineerprogrammer]

@malcolm-dsider to provide working/current JEDI implementation reference

[malcolm-dsider]

JEDI.pdf

[softwareengineerprogrammer]

JEDI implementation being tracked in https://github.com/NREL/GEOPHIRES-X/issues/221

[softwareengineerprogrammer]

Created https://github.com/NREL/GEOPHIRES-X/issues/232?title=Add+Geothermal+Rising+basic+economic+correlations for basic GR economic correlations