US DOE announces $20 million funding for geothermal drilling technology projects

Drilling rig (source: Nabors Industries)

The US Department of Energy thru the Geothermal Technologies Office (GTO) has announced a funding of up to $20 million for projects that aim to develop drilling technologies to shorten drilling times, thus reducing the cost of developing geothermal energy. The GTO seeks applications from drilling services providers, well service companies, research institutions, geothermal developers, and other entities that control well access and operations.

Letters of intent from interested participants are due by April 4, 2022 and full applications are due by June 3, 2022.

Through the Drilling Demos initiative, the DOE aims to dramatically lower the cost of geothermal drilling. This can have a huge impact on the costs of geothermal development considering that drilling typically exceeds 50% of the total cost of a project. This initiative also builds upon previous advancements led by the GTO that have streamlined drilling time and improved penetration rates in laboratory.

“There is incredible, untapped potential to use the heat beneath our feet to meet our energy demands with a renewable source that can be found in all pockets of this country,” said US Secretary of Energy Jennifer M. Granholm.

“Not only is the use of geothermal energy a significant asset for reaching a carbon-free grid by 2035, it can drive the creation of good paying jobs in energy communities as the country transitions to cleaner, more reliable energy sources.”

Source: US Department of Energy