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Cutting the red tape around geothermal energy
Feb 13, 2024
Recent legislation in the US aims to boost geothermal energy production by cutting red tape. Experts discuss the potential of geothermal energy, new drilling technology, and the need for innovation to compete. They also highlight environmental concerns, advancements in AI and drilling technology, and the importance of collaboration with the oil and gas sector.
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Quick takeaways
- US legislation may boost geothermal energy by easing regulations, aligning it with oil and gas rules
- Geothermal projects face hurdles like long timelines, drilling costs, but innovation and collaboration can enhance efficiency and competitiveness
Deep dives
Importance of the Proposed Legislation for Geothermal Development
The US House Energy and Commerce Committee recently passed a bill that could greatly impact the geothermal sector by excluding geothermal development from stringent NEPA rules. This change would align geothermal with oil and gas regulations, potentially reducing red tape and enhancing production. Geothermal resources in the US, particularly on federal lands, hold significant untapped potential, with around 30-40 gigawatts awaiting development. Streamlining permitting processes could lead to deploying close to 9 gigawatts of geothermal power production by 2030, contributing to a cleaner energy landscape.
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