Bill > S1155

This bill, titled the Geothermal Exploration and Technology Act of 2015, aims to boost the development of geothermal energy in the United States by establishing a direct loan program for high-risk geothermal exploration wells, managed by the Secretary of Energy. This program will prioritize projects with the potential for discovering unproven geothermal resources and those likely to lead to successful electricity production, requiring applicants to share data from exploration for national resource mapping. The bill also amends the Energy Independence and Security Act of 2007 to improve geothermal energy technology, particularly for large-scale applications like heating buildings or industrial processes, and for geothermal heat pumps, by funding research, development, and demonstration projects, and offering grants to various entities. Additionally, it allows for the coproduction of geothermal energy on land already leased for oil and gas extraction, provided it serves the public interest and geothermal energy is produced alongside oil and gas.