--- title: "DOE Announces $171 Million For Geothermal Expansion" type: "News" locale: "en" url: "https://longbridge.com/en/news/277325742.md" description: "The DOE has announced a funding opportunity of up to $171.5 million for next-generation geothermal projects, focusing on enhanced geothermal systems (EGS) and exploratory drilling. The funding includes $100 million for EGS field tests and $71.5 million for drilling, with applications due by April 30. This initiative aims to increase geothermal capacity, currently at 4 GW, to potentially 300 GW by 2050, supporting energy demands and innovation. However, some Democratic appropriators are concerned about the funding exceeding previous appropriations for geothermal energy." datetime: "2026-02-28T21:22:18.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/277325742.md) - [en](https://longbridge.com/en/news/277325742.md) - [zh-HK](https://longbridge.com/zh-HK/news/277325742.md) --- # DOE Announces $171 Million For Geothermal Expansion The DOE released a Notice of Funding Opportunity offering up to **$171.5 million for next-generation geothermal field tests and resource exploration**. The program targets field-scale demonstrations of enhanced geothermal systems (EGS) for electricity generation, along with drilling to characterize and confirm hydrothermal and next-gen prospects nationwide. **The funding splits into two initial open topics: up to $100 million for EGS field tests and $71.5 million for exploratory drilling.** Letters of intent are due March 27, with full applications due April 30. The move directly supports President Trump’s Executive Order “Unleashing American Energy,” according to the agency. Geothermal currently supplies roughly 4 GW of U.S. capacity, but represents only about 0.3% of total power generation. DOE estimates the resource base could support 300 GW or more by 2050 with technology improvements, delivering firm, 24/7 baseload power that complements intermittent renewables and meets rising demand from data centers and AI infrastructure. Recent studies show that some of the best locations in the United States for new geothermal sites are in the western part of the country and some of the southern states. Assistant Secretary Kyle Haustveit of the Office of Hydrocarbons and Geothermal Energy stated the initiative will _**“directly support our commitments to advance energy addition, reduce energy costs for American families and businesses, and unleash American energy dominance and innovation.”**_ One of the only pure-play publicly traded geothermal companies is Ormat Technologies (ORA), which develops, owns, and operates geothermal power plants primarily in the U.S. and internationally. The company has recently expanded via long-term power purchase agreements with data-center operators (Google), underscoring commercial interest in reliable geothermal supply. **Some Democratic appropriators are pitching a fit, noting the $146.5 million tranche exceeds the $118 million Congress appropriated for geothermal in FY2025 and requesting further review.** Proponents counter that successful pilots could unlock far larger private investment and help diversify the grid beyond wind, solar, and gas. Loading recommendations... ### Related Stocks - [ORA.US](https://longbridge.com/en/quote/ORA.US.md) - [GTE.US](https://longbridge.com/en/quote/GTE.US.md) - [CEG.US](https://longbridge.com/en/quote/CEG.US.md) - [ICLN.US](https://longbridge.com/en/quote/ICLN.US.md) - [PBD.US](https://longbridge.com/en/quote/PBD.US.md) - [CEGX.US](https://longbridge.com/en/quote/CEGX.US.md) - [QCLN.US](https://longbridge.com/en/quote/QCLN.US.md) - [JXI.US](https://longbridge.com/en/quote/JXI.US.md) - [GRID.US](https://longbridge.com/en/quote/GRID.US.md) - [ENFR.US](https://longbridge.com/en/quote/ENFR.US.md) - [ACES.US](https://longbridge.com/en/quote/ACES.US.md) - [XLU.US](https://longbridge.com/en/quote/XLU.US.md) - [EMLP.US](https://longbridge.com/en/quote/EMLP.US.md) ## Related News & Research - [Why more inflation pain might be ahead](https://longbridge.com/en/news/282369575.md) - [Did HE’s Maui Settlement Plan and Advisor Shift Just Redefine Hawaiian Electric’s (HE) Risk Narrative?](https://longbridge.com/en/news/282424151.md) - [XCharge sets up European plant in Spain](https://longbridge.com/en/news/282515316.md) - [XCharge to join Webull Corporate Connect clean energy sector webinar series](https://longbridge.com/en/news/282682404.md) - [American Electric Power’s Q1 2026 Earnings: What to Expect](https://longbridge.com/en/news/282488538.md)