4. Geothermal: the baseload renewable power source that’s heating up
Geothermal energy is an always on, reliable, clean, safe, and renewable resource that is widely available—yet underutilized—across the U.S. for electricity production. DOE announced an initiative this week to boost enhanced geothermal systems.
- As part of the 2021 infrastructure law, Congress appropriated $84 million for DOE to pilot demonstration projects for enhanced geothermal systems.
- The DOE announcement also previewed a Funding Opportunity Announcement coming soon for private sector developers to apply for the demonstration projects.
- Estimates suggest that by 2050, technology advances and smart policies could increase geothermal electricity generation to 60 GW (from 2.5 GW today) and provide heating or cooling services for 73 million homes.
What’s clear: There is a virtually limitless supply of energy right beneath us if we tap into geothermal heat. ClearPath has published recommendations for implementing the demonstration programs, including enhanced geothermal.
What’s clear: The Earth’s core holds heat that radiates out to the subsurface. This heat can be harnessed for a variety of uses including electricity generation, heating and cooling of buildings, and other industrial and hybrid applications. Drill deeper on ClearPath’s geothermal policy page.
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