Energy Department would finance geothermal projects across more regions

The Secretary of Energy would establish a competitive program that awards financing to geothermal projects based on technical and financial milestones. The program would cover geothermal projects in low-permeability or impermeable underground reservoirs. It would prioritize projects in regions and geologies with limited or no geothermal electricity generation, including projects on or near Indian land. The program would prioritize projects in regions or geologies with little or no geothermal electricity generation, projects that collect and share data, and projects with potential to attract significant private investment. Projects must have potential to produce at least 30 megawatts, or advance drilling or other innovations that could make commercial-scale generation of at least 30 megawatts viable. Awards must go to at least three proposals in at least three states and to at least three different sponsors. The Act authorizes Congress to provide funds needed to carry out the program. The Secretary would have to establish the program within 180 days after enactment.