The Polis administration and the Colorado Energy Office are accepting applications for the Geothermal Energy Grant Program, which will provide funding to support the use of zero-emission, geothermal energy for electricity generation and space heating and cooling.
The energy office will award $5 million during the first round of funding with at least one additional round during the next fiscal year, a news release said.
"The heat beneath our feet — geothermal energy — provides Colorado with the opportunity to lower energy costs by harnessing zero-emission energy to generate electricity and heat and cool homes, businesses, and communities. Colorado continues to be the national leader for geothermal energy and we look forward to seeing how these grants will continue that streak,” said Gov. Jared Polis
This program aligns with Governor Polis’ Heat Beneath Our Feet initiative, which focuses on exploring geothermal energy applications and addressing land use planning and market barriers across the West for this technology, the release added. The geothermal energy grant program is one of the largest investments in geothermal energy in the country, establishing Colorado as a leader in this expanding industry. The program accelerates the growth and development of geothermal technology, which will play a role in achieving net-zero emissions in Colorado by 2050.
“Colorado’s unique geography offers some of the most robust geothermal energy potential in the country,” said CEO Executive Director Will Toor. “Our geothermal program is an exciting opportunity to tap into this expansive resource to heat and cool our homes and increase access to reliable clean electricity. Geothermal technology will reduce greenhouse gas emissions while saving Coloradans money on energy costs and creating good-paying jobs in Colorado communities.”
Both public and private entities can apply for GEGP funding. Eligible projects include:
- Single-structure geothermal: Installing a geothermal system as the primary source of heating and cooling for a group of residential buildings or a single multifamily or nonresidential building
- Community district heating (thermal energy network): Constructing ground-source, water-source, or multi-source thermal systems that serve more than one building.
- Geothermal electricity generation: Developing geothermal electricity generation technology and/or using geothermal energy to produce hydrogen or power direct air capture technology.
More information about eligibility, award amounts, and how to apply is available on the Geothermal Energy Grant Program website. Three webinars, each covering one of the project types, will take place Nov. 28.
- Single Structure RFA Webinar - 11:00 AM – 12:00 PM MT
- Thermal Energy Network RFA Webinar - 1:00 – 2:00 PM MT
- Geothermal Electricity Generation RFA Webinar - 2:00 – 3:00 PM MT
To receive updates about the GEGP, you can sign-up for our email contact list. For questions about this program, please contact [email protected].
In addition to the GEGP, the State is making additional investments in geothermal energy through the competitive Geothermal Electricity Tax Credit. This merit-based, refundable tax credit is available for public and private entities that are investing in or producing geothermal electricity. CEO expects to open competitive applications for this tax credit in spring 2024.
