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The U.S. Department of Energy (DOE) last week announced up to $12 million for technologies that can make geothermal systems more efficient for clean, renewable energy production. The funding is designed to help scientists and engineers unlock the full potential of enhanced geothermal power to help tackle the climate crisis and achieve the Biden Administration’s goal of net-zero carbon emissions by 2050.

Enhanced Geothermal Systems (EGS) are man-made reservoirs created by injecting fluid into “hot rock,” which is heated by the natural warmth of the Earth’s core. The fluid re-opens pre-existing fractures, allowing it to circulate through the hot rock, and bring the heated water to the surface. That hot water becomes steam that spins a turbine, creating clean, renewable energy.

The “Innovative Methods to Control Hydraulic Properties of Enhanced Geothermal Systems” funding opportunity will support the research, development, demonstration, and deployment of technologies and techniques to control the fluid flow in EGS reservoirs, enhancing the connectivity of pre-existing fracture networks and optimizing them for heat mining. This ability to customize reservoirs has the potential to increase their efficiency and longevity—driving down EGS costs, reducing the risk of development, and accelerating the path towards widespread commercialization.

A  2019 study by DOE’s Geothermal Technologies Office (GTO) concluded that with technology improvement geothermal power generation could increase 26-fold, deploying 60 gigawatts-electric (GWe) of clean energy by 2050. Despite that vast potential, there are only 3.7 GWe of geothermal energy currently installed in the United States.

GTO is using its research and development portfolio to advance technologies and projects that can rapidly increase that number, while supporting thousands of good-paying jobs for American workers—including those in the oil and gas industries that already have matching skills and expertise.

“Enhanced geothermal systems harness the clean, renewable energy that lives right beneath our feet—available at any time, in any weather, in any part of the country,” said Secretary of Energy Jennifer M. Granholm. “This new funding will help us tap into its enormous potential to power millions of homes and businesses, reduce carbon emissions, and put thousands to work in greener, good-paying jobs.”

GTO is looking for applications that address the funding opportunity review criteria in full. Applications are due by 5:00 p.m. ET on June 15, 2021.

More information about the funding opportunity HERE.

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Hoosier Solar Holdings said last week that it is developing solar power facilities in economically distressed, rural communities across Indiana that have been designated as Qualified Opportunity Zones. 

Several solar and battery storage projects that collectively have a potential capcity of more than 1,600 megawatts (1.6 GW) are currently in active development, said the company. Many of these projects are expected to be operational by 2023.

Indiana’s 156 Opportunity Zones, in 58 counties across the state, provide federal capital gains tax advantages to attract investments in economically distressed urban and rural communities.

“Indiana has a unique opportunity to take advantage of solar power and battery storage technology to deliver reliable, low-cost power to serve the needs of residential and industrial customers,” said Paul Mitchell, Chief Executive Officer of Energy Systems Network, an Indianapolis-based partner of Hoosier Solar. “Importantly, we can attract investment capital to support development in economically distressed rural communities that have been designated as Opportunity Zones by Governor Eric Holcomb.”

Hoosier Solar selected South Bend, Indiana-based Inovateus Solar as the provider of engineering, procurement, and construction services, and Inovateus is leading Hoosier Solar’s engagement with landowners across Indiana.

“As multi-generational Hoosiers, we are thrilled to bring our deep experience in Indiana to this exciting initiative,” said T.J. Kanczuzewski, Chief Executive Officer of Inovateus Solar. “Hoosiers have deep ties to the land and we look forward to working with community leaders to encourage rural economic development while delivering competitively priced, reliable power.”

Hoosier Solar intends to use an Indiana-based workforce comprised of Hoosier businesses, utilizing Indiana’s strong manufacturing sector by purchasing finished equipment and raw materials from Indiana-based suppliers. Hoosier Solar also plans to involve local school groups and universities to provide job training and research opportunities for Indiana students.

 Hoosier Solar is a solar development company whose partners have decades of experience in energy development, financing, and economic development. Hoosier Solar will help meet the increasing demand for renewable energy by Indiana’s municipal and regulated utilities, as well as Indiana’s unique access to wholesale energy buyers across Midcontinent Independent System Operator (MISO) as well as the Mid-Atlantic region through the PJM regional interconnection organization.

“Indiana has remarkable resources for solar power,” said Carl Weatherley-White, Chief Executive Officer of Hoosier Solar, and Managing Director of Advantage Capital. “With deep agricultural roots, Hoosiers want to preserve productive land for multiple generations, and solar projects provide farmers with long-term, steady income that is neither seasonal nor dependent on weather or crop pricing. During the period that the land is not actively farmed, it can regenerate for future generations.”

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Members of the International Renewable Energy Agency and private sector representatives are joining forces to modernize and refurbish the existing hydropower fleet around the globe. This is one of the results of the third meeting of the Collaborative Framework on Hydropower organized by IRENA, which aims to expand collaboration and action between the agency’s global membership on the continued deployment of hydropower technologies.

Over 100 participants from 50 countries attended the gathering virtually.

“Hydropower will be a critical element for decarbonising energy systems,” said IRENA’s Director-General Francesco La Camera, highlighting the role of hydropower as clean electricity as well as flexibility provider for the integration of high shares of variable renewables. While hydropower has been a source of baseload generation traditionally, it is increasingly used as peaking capacity and source for flexible generation and energy services, water management and socioeconomic benefits.

With 43%, hydropower accounts for the largest share of installed renewable capacity, according to IRENA’s latest data. Although a large number of hydropower projects are in the pipeline, the global hydropower fleet is aging and a considerable amount of capacity is due for retirement or in need of refurbishment. About 50% of hydro installed capacity is older than 30 years. IRENA’s World Energy Transitions Outlook suggests that global hydropower capacity will need to more than double by 2050 if the climate goal of 1.5° C under the Paris Agreement is to be achieved.

“There is no excuse in 2021 anymore for no good environmental practices in the hydropower sector,” said Eddie Rich, chief executive officer of the International Hydropower Association (IHA). To drive the global hydropower agenda, IHA has initiated the San José Declaration on Sustainable Hydropower, to be endorsed by the World Hydropower Congress in September and presented to COP26 in Glasgow in November. “The Declaration will seek to place sustainable hydropower as an essential element in tackling climate change, being clear that good sustainability practice should be a minimum expectation for the future,” Rich added.

The need to urgently add hydropower capacity brings challenges such as unlocking the necessary investments, financial viability through fair markets and remuneration, the need to ensure sustainability, the need for innovations in technology, markets and business models, efficiency improvements, as well as more integrated planning. To close the gaps in global hydropower, the Collaborative Framework on Hydropower will identify “champion” countries taking the lead on key hydropower-related topics and help prepare the World Hydropower Congress.

China, Indonesia, Turkey, the U.S. and Uruguay shared their experiences and recommendations on the topics mentioned above during the Collaborative Framework. “Champion” countries will now take the thematic workplans forward. The next Collaborative Framework is scheduled as a high-level meeting at the World Hydropower Congress.

Sick of Paying an Outrageous Electric & Gas Bills? http://reduceandsaveenergy.com/switch

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The U.S. Department of Energy (DOE) last week announced up to $12 million for technologies that can make geothermal systems more efficient for clean, renewable energy production. The funding is designed to help scientists and engineers unlock the full potential of enhanced geothermal power to help tackle the climate crisis and achieve the Biden Administration’s goal of net-zero carbon emissions by 2050.

Enhanced Geothermal Systems (EGS) are man-made reservoirs created by injecting fluid into “hot rock,” which is heated by the natural warmth of the Earth’s core. The fluid re-opens pre-existing fractures, allowing it to circulate through the hot rock, and bring the heated water to the surface. That hot water becomes steam that spins a turbine, creating clean, renewable energy.

The “Innovative Methods to Control Hydraulic Properties of Enhanced Geothermal Systems” funding opportunity will support the research, development, demonstration, and deployment of technologies and techniques to control the fluid flow in EGS reservoirs, enhancing the connectivity of pre-existing fracture networks and optimizing them for heat mining. This ability to customize reservoirs has the potential to increase their efficiency and longevity—driving down EGS costs, reducing the risk of development, and accelerating the path towards widespread commercialization.

A  2019 study by DOE’s Geothermal Technologies Office (GTO) concluded that with technology improvement geothermal power generation could increase 26-fold, deploying 60 gigawatts-electric (GWe) of clean energy by 2050. Despite that vast potential, there are only 3.7 GWe of geothermal energy currently installed in the United States.

GTO is using its research and development portfolio to advance technologies and projects that can rapidly increase that number, while supporting thousands of good-paying jobs for American workers—including those in the oil and gas industries that already have matching skills and expertise.

“Enhanced geothermal systems harness the clean, renewable energy that lives right beneath our feet—available at any time, in any weather, in any part of the country,” said Secretary of Energy Jennifer M. Granholm. “This new funding will help us tap into its enormous potential to power millions of homes and businesses, reduce carbon emissions, and put thousands to work in greener, good-paying jobs.”

GTO is looking for applications that address the funding opportunity review criteria in full. Applications are due by 5:00 p.m. ET on June 15, 2021.

More information about the funding opportunity HERE.

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The US Department of Energy’s Loan Programs Office might be the most talked about — and yet least understood — part of the federal government’s efforts to support climate tech. 

It has already invested more than $35 billion in everything from Tesla's first big factory to the first two nuclear reactors to begin construction in the U.S. in more than 30 years. It was crucial in getting the first multi-hundred-megawatt solar projects ever developed off the ground.

Today it has more than $40 billion of available loan capacity to throw at the next wave of climate technologies to scale.

And now, as of a couple months ago, it has Jigar Shah as the director. Previously, Jigar was the co-founder and president of Generate Capital. He also founded SunEdison. And, of course, he is the former co-host of our sister podcast The Energy Gang. 

Jigar believes we have the technologies we need to put us on the right path toward decarbonization today. And further, that those technologies aren't as risky as the capital markets make them out to be.

Therein lies the arbitrage opportunity Jigar has pursued his whole career. And now he's got $40 billion of federal dollars to test it in a whole new arena.

In this episode, Shayle and Jigar break down the role of the Loan Programs Office and the specific financial products it offers. The backing of the federal government comes with the unique opportunities — namely to move way faster on market opportunities than traditional debt markets can. But as Jigar explains, it comes with key limitations too.

They also cover the technology sectors that Jigar sees opportunities in — everything from green hydrogen to small modular nuclear to virtual power plants. And they highlight the stage of companies and types of projects the office might be uniquely suited to support.

Plus, Jigar names the ideas he’s waiting to see (but that no one has pitched to him yet). 

The Interchange is brought to you by Smarter Grid Solutions, a leading enterprise energy management software company. Find out how Smarter Grid Solutions’ software can give you real control over your clean energy assets.

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