Renewable

July 29 (Renewables Now) - The US Department of Energy (DOE) on Thursday announced setting aside up to USD 165 million (EUR 163m) in financing to expand geothermal energy deployment across the country.

As part of the Geothermal Energy from Oil and Gas Demonstrated Engineering (GEODE) initiative, the government will provide USD 10 million to establish a consortium of experts who will develop a roadmap to address technology and knowledge gaps in this field. This roadmap will then be used to finance research worth up to USD 155 million aimed at removing the barriers.

Existing challenges have been identified with subsurface environments and long permitting timelines.

“Leveraging the extensive knowledge, technology, skill, and experience of the oil and gas sector is the perfect way to tackle barriers to geothermal deployment while also giving fossil-fuel-based communities and workers a role in the transition to clean energy,” commented US Secretary of Energy Jennifer Granholm.

Applications for the GEODE initiative are due by October 28, 2022.

(USD 1 = EUR 0.988)

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