Bipartisan Support for Geothermal Strengthens in the U.S.

Source: www.gulfoilandgas.com 12/14/2024, Location: North America

A recent report from Heatmap indicates geothermal energy’s unique bipartisan appeal in the U.S. and how it can be an energy solution that transcends ideological divides.

“Geothermal has something to offer everyone,” said Aidan Mackenzie, a fellow at the Institute for Progress, to Heatmap.

The article states that Republicans appreciate its alignment with the oil and gas industry, leveraging existing drilling expertise and equipment—often in Republican-controlled states.

Meanwhile, Democrats are drawn to its ability to generate clean electricity around the clock, supporting decarbonized energy grids.

Jeanine Vany, co-founder of Eavor, highlighted geothermal’s bipartisan appeal but noted the limited benefits it received from significant federal investments like the Inflation Reduction Act. “We notoriously got left out of the Bipartisan Infrastructure Law and the IRA. That’s well documented,” stated Vany.

Proposed legislation, including the Energy Permitting Reform Act of 2024 and the bipartisan GEO Act, aims to streamline geothermal permitting and boost its development. The Department of Energy estimates that next-generation geothermal could provide 90 GW of baseload clean energy by 2050, supporting additional energy into the grids.

Current efforts to secure $100 million for demonstration projects are underway, led by Senator Martin Heinrich. However, securing funding in a fiscally conservative environment remains a challenge. Mackenzie underscored these stakes, questioning the viability of getting “more money out there.”

??While geothermal energy faces challenges, including limited federal support and funding constraints, its unique position as a bipartisan solution highlights the significant opportunities it offers.


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