California commits to funding geothermal cost-share program essential to driving project deployment
This week, Governor Gavin Newsom signed a budget agreement that includes targeted funding for geothermal exploratory wells, which are essential to developing next-generation geothermal projects in the state.
“Next-generation geothermal can play a significant role in helping California meet its ambitious climate and clean energy targets by providing firm power to complement wind, solar, and battery storage,” said Ashley Arax, Senior California Policy Manager at Clean Air Task Force (CATF). “Dedicated funding for in-state geothermal exploration, characterization, and early development is a critical step for bringing more reliable, affordable clean energy onto California’s grid. We applaud Governor Newsom and the state legislature for their commitment to advancing next-generation geothermal in California.”
CATF recently released a report, “Build Here: How Targeted State Investment in Geothermal Can Fill California’s Clean Firm Gap,” which finds that next-generation geothermal energy has the potential to drastically reduce the cost of achieving the state’s clean energy goals – but only if California moves quickly to remove development barriers.
“California has immense geothermal potential and a strong workforce at the ready, but limited understanding of subsurface resources across the state has been a barrier to project deployment,” said Terra Rogers, Senior Director, Superhot Rock Geothermal at CATF. “The funding included in the state’s budget closely aligns with CATF’s recommendation for an in-field program to support characterization, mapping, and development, generating the data needed to catalyze private investment in next-generation geothermal. With targeted investment to overcome early-stage exploration barriers, California can accelerate in-state deployment, strengthen grid reliability, and bring more clean, firm power onto the grid while helping make electricity more affordable.”
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About Clean Air Task Force
Clean Air Task Force (CATF) is a global nonprofit organization working to safeguard against the worst impacts of climate change by catalyzing the rapid development and deployment of low-carbon energy and other climate-protecting technologies. With 30 years of internationally recognized expertise on climate policy and a fierce commitment to exploring all potential solutions, CATF is a pragmatic, non-ideological advocacy group with the bold ideas needed to address climate change. CATF has offices in Boston, Washington D.C., and Brussels, with staff working virtually around the world. Visit catf.us and follow @cleanaircatf.
