The US Department of Energy (DOE) and Geothermal Technologies Office (GTO) has announced a new funding opportunity under the Geothermal Resources’ Value in Implementing Decarbonization (GRID) program. A total of USD 7 million will be available under this funding.
More details are available on the full Funding Opportunity Announcement (FOA) document. Letters of Intent from those who wish to apply must be submitted by the 24th of July 2024.
The program seeks to provide funding for regional grid modeling studies that quantify the potential contribution of clean, firm geothermal power in supporting an equitable transition to a future decarbonized grid and economy. Innovative valuation metrics developed under this FOA will provide a deeper understanding of geothermal energy’s economic and reliability benefits, fostering informed decision making for future energy policies and investments.
Given the versatility of the “heat beneath our feet,” the value of geothermal power can be represented from a few different perspectives based on the current capabilities geothermal already provides or has demonstrated, as well as emerging technology innovations that are unlocking new ability for geothermal power to contribute to the reliability of decarbonizing the grid. Studies can provide any of the following facets of geothermal power:
- Firm capacity of geothermal to support resource adequacy
- Flexibility of geothermal in balancing across an evolving generation supply mix and load demand
- Integrated value of geothermal in combination with energy storage technologies
- System-wide impact of geothermal power to grid decarbonization
Through this FOA, GTO intends to fund 1?14 regional grid modeling studies within specific power pools, joint utilities groups, utility service territories, or Tribal jurisdictions in the conterminous United States, Alaska, Hawai’i, or U.S. territories. These studies should use one or more analysis approaches and tools such as capacity expansion modeling, production cost modeling, Loss-of-Load based analyses, machine learning applications, and/or alternate modeling or market design approaches.
The DOE is also providing a Teaming Partner list for organizations that wish to participate on a project and may want to explore potential partnerships. The Teaming Partner List page provides more information on this opportunity.
Source: US Department of Energy
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