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S4116119th CongressWALLET

Geo POWER Act

Sponsored By: Senator John Hickenlooper

Introduced

Summary

Creates a milestone-based financing program for geothermal demonstrations that would fund next-generation geothermal projects in low-permeability and impermeable reservoirs and push development into regions with little or no current geothermal power. It aims to lower upfront drilling costs, generate public data to de-risk projects, and attract private investment.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

Milestone financing for geothermal developers

This bill would require the Secretary of Energy to set up a Milestone-Based Geothermal Demonstration Program within 180 days. The program would award competitive, milestone-based "innovative financing" to projects in low-permeability or impermeable reservoirs. It would prioritize projects in places with little geothermal power, including on or near Indian land, projects that share data, and projects that can enable at least 30 megawatts of generation or attract private investment. The Secretary would have to fund at least three different proposals in at least three States, keep enough staff to run the program, carry out awards as milestone-based demonstrations under the Energy Act, and Congress could appropriate "such sums as are necessary" to run it.

Sponsors & CoSponsors

Sponsor

John Hickenlooper

CO • D

Cosponsors

  • Steve Daines

    MT • R

    Sponsored 3/17/2026

  • Alex Padilla

    CA • D

    Sponsored 3/17/2026

  • John Curtis

    UT • R

    Sponsored 3/17/2026

Roll Call Votes

No roll call votes available for this bill.

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