U.S. to Fund Geothermal Energy

subscribe

The availability of $70 million in funding over three years for geothermal energy will help national clean energy goals, the U.S. Energy Department said.

U.S. President Barack Obama this year set a goal of using clean energy to generate 80 percent of the country's electricity by 2035.

"By investing in geothermal technologies, we are also investing in our nation's energy future and creating opportunities for energy innovation in the United States," said Energy Secretary Steven Chu.

"The United States remains a global leader in geothermal energy development, and we can leverage our experience to develop more energy here at home while increasing our competitiveness in the global clean energy economy."

The U.S. Geological Survey estimates that geothermal resources could add 30 gigawatts of renewable energy to the national energy supply.

The funding targets exploration technologies that could locate geothermal energy resources.

"By targeting funding to research and develop these innovative technologies, the department aims to reduce the upfront cost of geothermal energy systems, expand their use, and enable the United States to tap the huge potential of this renewable energy resource," the energy department said.

Related News

ssen

Ontario Teachers Pension Plan agrees to acquire a 25% stake in SSEN Transmission

LONDON - Ontario Teachers’ Pension Plan Board (‘Ontario Teachers’) has reached an agreement with Scotland-based energy provider SSE plc (‘SSE’) to acquire a 25% minority stake in its electricity transmission network business, SSEN Transmission, to provide clean, affordable renewable energy to millions of homes and businesses across the UK.

The transaction is based on an effective economic date of 31 March 2022, and total cash proceeds of £1,465m for the 25% stake are expected at completion. The transaction is expected to complete shortly.

SSEN Transmission, which operates under its licenced entity, Scottish Hydro Electric Transmission plc, transports electricity generated from renewable resources…

READ MORE
global-c02-emissions

Global CO2 emissions 'flatlined' in 2019, says IEA

READ MORE

hydrogen electricity

Green hydrogen, green energy: inside Brazil's $5.4bn green hydrogen plant

READ MORE

Electricity Market Headed for a Reshuffle as Province Vows Overhaul

Electricity Market Headed for a Reshuffle as Province Vows Overhaul

READ MORE

scotland power

Clocks are running slow across Europe because of an argument over who pays the electricity bill

READ MORE