DOE Launches New Energy Earthshot to Slash the Cost of Geothermal Power –

by | Sep 8, 2022 | Energy

WASHINGTON, D.C. — U.S. Secretary Jennifer M. Granholm today announced a new Department of Energy (DOE) goal to make enhanced geothermal systems (EGS) a widespread renewable energy option in the U.S. by cutting its cost by 90% to $45 per megawatt hour by 2035. The Enhanced Geothermal Shot DOE’s seeks to unlock the Earth’s nearly inexhaustible heat resources to provide reliable, clean power to American communities and expand opportunities for a robust domestic geothermal industry. More than five terawatts of heat resources—enough to meet the electricity needs of the entire world—exist in the United States. Capturing even a small fraction of this could affordably power over 40 million American homes. EGS can also enable technologies for widespread deployment of geothermal heating and cooling, which will further allow buildings and whole communities to decarbonize. Achieving the Enhanced Geothermal Shot will go a long way toward reaching President Biden’s goals of 100% carbon pollution-free electricity by 2035 and net-zero emissions across the U.S. economy by 2050.“The United States has a vast, geothermal energy resource lying right beneath our feet, and this program will make it economical to bring that power to American households and businesses,” said U.S. Secretary of Energy Jennifer M. Granholm. “DOE’s Enhanced Geotherma …

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