Biden Administration Bets $74 Million on 'Enhanced' Geothermal Power
The Department of Energy will offer $74 million to geothermal pilot projects that tap into heat several miles underground, in a bid to unlock massive amounts of renewable electricity. The funding, announced last week, will go to up to seven pilot projects.
Related Knowledge Center: ENERGY BASICS: geothermal
Geothermal energy, which exploits heat emanating from the earth’s core, provides a sliver of total energy generation in the U.S.: 0.4 percent of utility-scale generation of electricity was produced by geothermal sources, according to the Energy Information Administration.
But experts see significant opportunity for growth in use of geothermal.