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Enhanced geothermal projects in US awarded $74mn funding
22/2/2023
News
The US Department of Energy (DOE) has announced funding of up to $74mn for several pilot projects that will test the efficacy and scalability of enhanced geothermal systems (EGS).
Directed by President Biden’s Bipartisan Infrastructure Law, the pilot projects aim to use innovative technology and development techniques to capture the earth’s heat resources in diverse geologic settings. Through this investment, the DOE says it hopes to demonstrate the growth and potential for geothermal energy to provide reliable, around-the-clock electricity across the country.
Geothermal energy currently generates about 3.7 GW of electricity in the US, but new analysis shows it could provide 90 GW of flexible power to the grid by 2050, as well as heating and cooling solutions nationwide. This substantial geothermal energy potential is, however, largely inaccessible with conventional geothermal technologies, according to the DOE.
The use of geothermal energy for electricity requires three elements: heat, fluid and a permeable section of the earth’s crust. While heat exists everywhere underground, many locations lack adequate water and/or permeability. EGS employ human-made underground reservoirs to enable the fluid flow necessary to draw geothermal energy to the surface.
Achieving this goal would make geothermal energy a clean, cost-effective option in the US, while spurring progress towards President Biden’s goals of 100% carbon-pollution-free electricity by 2035 and net zero emissions by 2050, the DOE says.
This is DOE’s first funding opportunity for geothermal energy since the launch of the Enhanced Geothermal Shot, part of the Department’s Energy EarthShots Initiative, which seeks to cut the cost of geothermal energy 90% by 2035.
