DOE Earmarks Up to $165M for Geothermal Energy Deployment
The Department of Energy said it will invest up to $165 million in efforts to address gaps in the deployment of geothermal energy.
DOE earmarked an initial $10 million for a funding opportunity titled Geothermal Energy from Oil and gas Demonstrated Engineering.
The money will be used to convene experts who will develop a technology roadmap using best practices in the oil and gas industry. The remaining $155 million may be invested in executing the road map, DOE said.
Secretary of Energy Jennifer Granholm said that using lessons learned from the oil and gas industry is the best way to support geothermal energy deployment, which, according to the department, is hampered by challenges with subsurface environments and project process issues.
The oil and gas industry offers best practices in drilling, construction, co-production and attracting private investments, DOE said.
A GEODE administrator will be tasked with leading a consortium in transferring technology from the oil and gas industry, recommending ways to address regulatory barriers and developing ways to transition the workforce, DOE said on the funding opportunity’s page.
DOE added that the GEODE effort could create at least 60 gigawatts of electricity-generating capacity, enough to power at least 40 million homes.
The effort could last for five years, with awards beyond the first being contingent on Congressional appropriations. Applications are due Oct. 28.
GEODE supports President Joe Biden’s efforts to combat climate change and enable energy independence, the department said.
Category: Federal Civilian
Tags: climate change Department of Energy federal civilian GEODE geothermal energy Jennifer Granholm oil and gas technology transfer