Colorado Allocates $12.4 Million for Geothermal Energy Initiatives
Colorado has committed $12.4 million to seven geothermal energy projects aimed at enhancing heating, cooling, and electricity generation. This funding, part of ongoing state efforts, supports both emissions reduction and renewable energy development.
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The Colorado Energy Office has allocated $12.4 million to seven geothermal projects, with a focus on heating and cooling systems as well as electricity generation. This funding comes from the Geothermal Energy Grant Program and the Geothermal Energy Tax Credit Offering, which has collectively awarded $42.6 million to date.
The projects involve thermal energy networks, studies, and drilling test wells, with recipients including educational institutions and local governments. Notably, five awards target heating and cooling, expected to prevent emissions equivalent to 2.8 million vehicle miles annually. The latest funding marks the conclusion of the grant program, which has distributed $9.8 million since 2023 for 49 projects.
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