The Geo POWER Act directs the Department of Energy to establish a new Milestone-Based Geothermal Demonstration Program that will provide innovative financing to support geothermal electricity generation projects in regions and geologies across the United States that currently have little or no geothermal energy production. The program prioritizes projects in areas with untapped geothermal potential, including on or near tribal lands, and focuses on projects capable of generating at least 30 megawatts of electricity or demonstrating innovative drilling techniques that could enable commercial-scale geothermal development. The Energy Department must establish the program within 180 days and must fund projects from at least three different states and three different project sponsors, using milestone-based financing tied to technical and financial achievements to reduce investment risks. The legislation also aims to generate public data about new geothermal resources that will help attract future private investment in the industry. Congress authorizes whatever funding is necessary to carry out the program, though no specific dollar amount is specified in the bill.
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