Biden-Harris Administration Invests $31 Million to Reduce Costs and Expand Clean, Renewable Geothermal Energy
Funding will Support Six Projects to Help Bring Geothermal Power to Millions of U.S. Homes and Reduce Industrial Emissions
WASHINGTON, D.C. — Building on President Biden and Vice President Harris’s Investing in America agenda, the U.S. Department of Energy today announced the selection of six projects that will receive up to $31 million to advance geothermal energy throughout the country.
As opposed to traditional energy storage batteries, which typically store electrical energy, reservoir thermal energy storage technology can store thermal energy directly in underground reservoirs for 100 or more hours without the need for electricity. Several industries, including chemicals, food production, and forest products, consume most of their energy to generate heat used to transform materials into useful products—making RTES an important industrial solution.
Selection for award negotiations is not a commitment by DOE to issue an award or provide funding. Before funding is issued, DOE and the applicants will undergo a negotiation process, and DOE may cancel negotiations and rescind the selection for any reason during that time. The mission of the U.S. Energy Department is to ensure America’s security and prosperity by addressing its energy, environmental and nuclear challenges through transformative science and technology solutions. Learn more.
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