The study showed that the Geothermal Loan Guaranty Program has had only a negligible effect on geothermal development and the response to the program was far less than expected. The streamlining of environmental regulations and leasing policies, and the granting of intangible drilling cost write-offs and depletion allowances to operators would have had a greater impact on geothermal energy development. The loan guaranty program did not promote the undertaking of any new projects that would not have been undertaken without it. The program only accelerated the pace for some development which might have commenced in the future. Included in the study are recommendations for improving the operation of the program thereby increasing its attractiveness to potential applicants; COO-4635-1