USA: GEO Act would establish public-private partnerships to improve the collection of geothermal data and reduce drilling risk

Cortez Masto, Wyden Introduce Geothermal Energy Opportunities (GEO) Act (News Release)

U.S. Senator Catherine Cortez
Masto (D-Nev.)

U.S. Senator Catherine Cortez Masto (D-Nev.) today introduced the Geothermal Energy Opportunities (GEO) Act with Senator Ron Wyden (D-Ore.). The GEO Act promotes the growth of geothermal energy by developing stronger public-private partnerships, reducing barriers to leasing public land for geothermal energy use where certain energy extraction activities are already permitted, and promoting the direct development and deployment of geothermal heat pump technologies among large-scale facilities and buildings.

Geothermal energy provides clean, renewable, low-carbon energy in the United States and around the world. Nevada is a leader in the use of renewable energy and one of the highest producers of this type of energy in America.

1. The GEO Act establishes public-private partnerships to improve the collection of geothermal data and reduce drilling risk.
   Poor geothermal resource maps and the related challenge of finding “hot spots” deep underground create financial risks for the use of this technology; the GEO Act reduces future drilling risk through a competitive, cost-shared grant program administered by the Department of Energy (DOE).
2. This legislation reduces barriers to obtaining leases for geothermal energy development by allowing oil and gas leaseholders to co-produce geothermal energy without going through an additional competitive lease process.
   It would also allow for rapid expansion of already identified geothermal resources without additional delays and ensure taxpayers fair market value for the resource.
3. The GEO Act promotes geothermal heat pumps and direct use of geothermal energy by establishing a pair of programs at the DOE to promote the development and deployment of this technology both at the Department of Energy and among local entities.
   This bill would create a research program conducted by the DOE and a second grant program for states and local governments, universities, and non-profits to promote the use of geothermal energy.
4. This bill ensures the federal government prioritizes the development and use of public geothermal energy.
   It would require the Bureau of Land Management to identify high-priority areas for new geothermal development and set goals for the Secretary of Interior to approve more than 15,000 megawatts of new geothermal energy and for the Director of the United States Geological Survey to identify sites capable of producing 50,000 megawatts of geothermal power by 2025.

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