Geothermal Funding Could Get 25 pct Bump in US Government Funding

February 5, 2010 /EIN PRESSWIRE/ The Geothermal Energy Association (GEA) says that the 2011 White House budget calls for a 25% increase in geothermal energy funding and the opportunity for the industry to compete for more research funding.

The GEA says Obama Administration’s budget earmarks $55 million for geothermal technology development. Additionally, the budget sets aside $500 million in credit subsidies to support loan guarantees for energy-efficiency and renewable-energy projects.

The White House has tasked the Department of Energy to lead federal efforts to double renewable energy generation capacity within the next two years.

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