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U.S. Department of Energy Announces $7 Million Funding for Geothermal Energy Research
Funding aims to develop grid models to support a decarbonized electricity grid by 2035 through geothermal power.
The U.S. Department of Energy’s (DOE) Geothermal Technologies Office (GTO) has announced a funding opportunity of up to $7 million aimed at developing regional grid models. These models will assess how geothermal power can contribute to a decarbonized electricity grid by 2035, supporting an equitable energy transition.
Geothermal energy holds the potential to provide firm, flexible, renewable power to over 65 million homes across the United States. The GRID (Geothermal Resources’ Value in Implementing Decarbonization) funding opportunity focuses on creating new valuation metrics to capture the broader economic and reliability benefits of geothermal power. It also includes research on supporting an equitable transition through geothermal deployment and the development of visual tools to clearly communicate research findings.
The GTO plans to fund regional grid modeling studies within specific power pools, joint utilities groups, utility service territories, or Tribal jurisdictions in the contiguous United States, Alaska, Hawai'i, or U.S. territories. The objective is to quantify the role of geothermal power in an equitable, decarbonized grid, addressing grid stability by examining how geothermal power can support and stabilize the grid as it incorporates higher shares of variable renewable energy sources.
Letters of Intent are required and due by July 24, 2024, with applications due by September 9, 2024. For more details and to read the full Funding Opportunity Announcement, visit the DOE’s website.
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