Geothermal Drilling: U.S. DOE Announces $20 Million to Lower Costs of Geothermal Drilling

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Geothermal Drilling: U.S. DOE Announces $20 Million to Lower Costs of Geothermal Drilling
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The U.S. Department of Energy (DOE) today announced up to $20 million in funding to lower the cost of developing geothermal energy

by demonstrating faster drilling technologies to shorten the time it takes to develop projects overall. DOE is looking to dramatically lower the cost of geothermal drilling — which can exceed 50% of a project’s total costs. Projects selected for drilling demonstrations will spur further investment in geothermal energy, which can be a critical source of zero-carbon energy that’s available around the clock year-round.

“There is incredible, untapped potential to use the heat beneath our feet to meet our energy demands with a renewable source that can be found in all pockets of this country,” said U.S. Secretary of Energy Jennifer M. Granholm. “Not only is the use of geothermal energy a significant asset for reaching a carbon-free grid by 2035, it can drive the creation of good paying jobs in energy communities as the country transitions to cleaner, more reliable energy sources.

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