DOE announces largest investment in geothermal

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DOE announces largest investment in geothermal

geothermal_energy On October 29 US Department of Energy announced $338 million investment into geothermal energy research and development projects reclaiming its title of the largest donor for the geothermal energy development. The investment becomes the largest in over 25 years responding to the Congress adoption of the Advanced Geothermal Research and Development Act in 2007.

Now the US government is the leading investor in the US geothermal energy technology reclaiming the spot from Google.org who had invested big in the technology since their announcement in 2008.

Karl Gawell, Executive Director of Geothermal Energy Association, hopes that now the geothermal energy can back-out the state economy being the most effective energy technology so far. He also pointed out that the Department of Energy prompt investing will step up the thermal energy development with project winners completing their work in the shortest time possible if DOE continues to act efficiently.