US Senators introduce bill to streamline geothermal permitting

A quartet of US Senators introduced last Thursday a new bipartisan bill that aims to speed up the nationwide adoption and development of geothermal energy.

The main goal of the Geothermal Energy Optimization (GEO) Act of 2024 is to put geothermal projects on an equal footing with oil and gas projects on public land by streamlining the lengthy permitting process. According to a 2014 report by the National Renewable Energy Lab (NREL), one location for geothermal project development could trigger six different reviews and result in a development cycle of 7-10 years.

In addition to addressing this issue, the bill also creates a Geothermal Ombudsman and Strike Team to provide additional resources for field offices and establishes new geothermal lease targets on federal lands, requiring the Bureau of Land Management (BLM) and US Forest Service (USFS) to hold auctions more frequently than every two years.

“This bipartisan legislation will make it easier for companies to explore and invest in geothermal projects that power our communities while lowering energy costs for Nevada families,” commented Catherine Cortez Masto, US Senator for Nevada and one of the four sponsors of the bill, the other being Martin Heinrich of New Mexico, James Risch of Idaho, and Mike Lee of Utah.

Eavor Technologies Inc, the Canadian developer of a globally scalable geothermal closed-loop technology, welcomed the move and referred to the bill as “critical legislation”. It explained that the GEO Act will introduce a categorical exclusion specifically for exploration drilling and well-field development.

“This legislation will help advance geothermal projects like Eavor’s to become a reality more quickly across the United States,” stated Jeanine Vany, Eavor co-founder and executive vice president of corporate affairs.

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