Geothermal Energy Gets Big Boost from Government

By Chris de Morsella on October 30, 2009 3 Comments advanced geothermal, DOE, DOE National Laboratory, dry rock geothermal, EGS, enhanced geothermal reservoir, enhanced geothermal systems, Geothermal, Geothermal Energy, geothermal field, geothermal heat pump, GHP, ground-source heat pump, hot rock geothermal, low-temperature geothermal, Recovery Act, renewable energy, Steven Chu, U.S. Department of Energy

Steven Chu, U.S. Department of Energy (DOE) Secretary has announced up to $338 million in Recovery Act funding for the exploration and development of new geothermal fields as well as for research into advanced geothermal technologies. The newly announced grants will be awarded to 123 projects in 39 states and will be matched more than one-for-one with an additional $353 million in private and non-Federal cost-share funds, for a total grant pool of $691 million. This is a pretty big number and represents a major investment in a promising and yet often overlooked renewable energy resource. Recipients of the new grant funding include private industry, academic institutions, tribal entities, local governments, and DOE’s National Laboratories.