The Hot Rock Act (attached) would authorize a large grant program for superhot, ultradeep geothermal energy research and development. Here is the gist of the bill:
- $16 million/yr (2027-2031) for high temperature completions. equipment, and supercritical fluids research and development.
- $40 million/yr (2027-2031) for a test site.
- $16 million/yr (2027-2031) for hot dry rock geothermal systems research and development.
- $30 million/yr (2027-2031) for achieving program milestones.
- $5 million/yr (2027-2031) to study the risks associated with hot dry rock geothermal energy.
- $10 million/yr (2027-2031) for geothermal industry workforce training.
- $10 million/yr to support BLM and Forest Service authorization programs for hot dry geothermal.
That’s a total of $127 million/yr for the next 5 years. Is this necessary?
Press reports indicate that Quaise is raising $200 million to develop its first commercial geothermal power plant. If superhot geothermal is as promising as many of us believe, companies should be able to attract sufficient private capital without financial support from the Federal govt.
Bud's Offshore Energy (BOE) 