The Geothermal Technologies Office (GTO) announced a team to lead a new effort to expand U.S. geothermal energy deployment. Under GTO’s Geothermal Energy from Oil and gas Demonstrated Engineering (GEODE) initiative, Project InnerSpace, the Society of Petroleum Engineers International (SPE), and Geothermal Rising will form a consortium to leverage best practices from the oil and gas industry to increase geothermal development.
The oil and gas and geothermal industries have numerous similarities that provide exciting opportunities for geothermal expansion—from advances in drilling and well construction to co-production possibilities in existing oil and gas basins. GTO and the GEODE consortium will identify ways to access and apply the expertise, technologies, assets, and workforce skills of the larger domestic oil and gas industry to overcome barriers for geothermal energy and encourage private investment.
DOE will fund up to $10 million to form the GEODE consortium and create a roadmap for up to $155 million in future investments, dependent on Congressional appropriations.