A total of $74 million will be given for up to seven pilot projects to test the efficacy and scalability of enhanced geothermal systems (EGS), the US Department of Energy (DOE) announced on Wednesday.
The pilot projects will work to scale EGS and renewable geothermal energy to over 65 million American homes.
This is the DOE’s first funding opportunity for geothermal energy since the launch of the Enhanced Geothermal ShotTM, part of the DOE’s Energy EarthShots Initiative, which seeks to cut the cost of geothermal energy by 90% by 2035.
The pilot projects will use innovative technology and a variety of development techniques to capture the earth’s heat resources in diverse geologic settings.
Geothermal energy currently generates about 3.7 gigawatts of electricity in the US, but a new analysis shows it could provide 90 gigawatts of firm, flexible power to the grid by 2050, as well as offer heating and cooling solutions nationwide.
‘Achieving this goal would make geothermal energy a clean, cost-effective option across the country, while spurring progress toward President Biden’s goals of 100% carbon-pollution-free electricity by 2035 and net-zero emissions by 2050,’ the statement read.
