The Ormat 2019 annual report provides sufficient information to estimate their , which we assume is representative of the geothermal industry (Ormat, 2020a). Ormat reports 1536 M$ debt at an average interest rate of 5.1% and 1524 M$ equity at an average rate of 2.1%, resulting in a of 3.6%. Thus, a "LIKELY" of 4% is expected for the geothermal industry. These "LIKELY" LCOE values may only be compared against LCOEs calculated with the same financing assumptions.