Press Release
☷Biden Harris Administration Invests $60 Million to Expand Clean Renewable Geothermal Energy
U.S. Department of Energy ( By Press Release office)
Feb 15,2024
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President Biden ' s plan to invest in America will fund three projects aimed at expanding the use of enhanced geothermal systems ( EGS ) to provide renewable energy to millions of homes . The U . S . Department of Energy has selected these projects to receive up to $60 million in funding to demonstrate the effectiveness and scalability of EGS . These pilot projects will utilize innovative technology and development techniques to harness the Earth ' s heat resources and deliver reliable and cost - effective electricity to homes and businesses . This initiative aligns with the President ' s goal of achieving 100% clean electricity by 2035 and supports the Enhanced Geothermal Shot™ program , which aims to reduce the cost of EGS by 90% . U . S . Secretary of Energy , Jennifer M . Granholm , expressed confidence that these projects will advance geothermal power and expand its use to regions where it has never been utilized before . The funding from President Biden ' s infrastructure law will help reduce carbon emissions , create jobs , and provide clean and affordable energy nationwide . The three projects include Chevron New Energies , Fervo Energy , and Mazama Energy , each focusing on different aspects of EGS implementation . These projects will contribute to the development of the necessary science and technology to operate EGS in extreme heat conditions . EGS involves creating artificial underground reservoirs to tap into the heat energy stored in hot rocks beneath the surface and convert it into usable energy . This method is particularly useful in locations where natural fluid flow is insufficient to recover underground heat energy . Geothermal resources currently produce around four gigawatts of electricity in the United States , but according to a recent analysis by the Department of Energy ( DOE ) , advancing EGS technology could potentially generate 90 gigawatts of reliable and flexible power for the U . S . grid by 2050 . This would be enough to power over 65 million American homes and also provide heating and cooling solutions nationwide . By improving and reducing the cost of EGS technologies , we can tap into the full potential of geothermal electricity , offering a clean and cost - effective option throughout the country . This progress aligns with the Administration ' s goals of achieving a carbon - free grid by 2035 and net - zero emissions by 2050 . These projects are part of the initial selection for the EGS Pilot Demonstrations funding opportunity . The second round of funding will focus on EGS demonstrations in the eastern United States . The Geothermal Technologies Office in the Office of Energy Efficiency and Renewable Energy of the DOE is funding these projects . To learn more about EGS , the pilot projects , and other EGS research by the DOE , visit their website . It is important to note that selection for award negotiations does not guarantee funding from the DOE . Both the DOE and the applicants will engage in a negotiation process before any funding is provided , and the DOE reserves the right to cancel negotiations or rescind the selection for any reason during that time .
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