U.S. to Fund Geothermal Energy

U.S. Geothermal Energy Funding accelerates clean energy, renewable power, and exploration technologies to tap 30 GW potential, cut upfront costs, boost baseload generation, and advance innovation toward 80% clean electricity by 2035.

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 by 2035 of the country's electricity.

"By investing in geothermal technologies, we are also investing in our nation's energy future and creating opportunities for alternative 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, even though clean energy still has a long way to go in the broader mix.

The funding targets exploration technologies that could locate geothermal energy resources, as permitting for geothermal energy speeds up across agencies.

"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.

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