The U.S. Department of Energy (DOE) today announced a funding opportunity of $171.5 million to support next-generation field-scale tests and exploration drilling in geothermal energy. The initiative aims to advance the characterization and potential confirmation of promising geothermal resources across the country.

According to the DOE, these projects are designed to help establish geothermal energy as an affordable, reliable, and secure source of electricity for American homes and businesses around the clock. “This work will directly support our commitment to advance energy innovation, lower costs for American families and businesses, and enhance national energy leadership,” said Kyle Haustveit, Assistant Secretary of the DOE’s Hydrocarbons and Geothermal Energy Office.

The funding opportunity covers six topic areas with varying levels of support. For the first round, two topics will be open, focusing on enhanced geothermal system field tests and drilling for next-generation and hydrothermal resource characterization and confirmation.

While the United States currently leads the world in geothermal electricity capacity with about 4 gigawatts, DOE analysis estimates a potential of at least 300 gigawatts by 2050. Projects funded under this opportunity are expected to reduce risks in new technologies and locations, encourage private investment, and accelerate growth in the U.S. geothermal industry.