en.Wedoany.com Reported - Colorado Governor Jared Polis has signed a bill aimed at lowering regulatory barriers for thermal energy network providers and encouraging local electric utilities to participate in the development of geothermal power projects.
The bill, Senate Bill 26-142 (Development of Thermal Energy Resources Act), sponsored by Senators Matt Ball and Cathy Kipp, along with Representatives Junie Joseph and Ryan Gonzalez, aims to promote low-cost, innovative clean energy solutions such as geothermal energy.
The new law authorizes local governments or their special districts to enter into agreements with entities to provide thermal energy network services for local governments. Local governments may issue bonds to fund the construction of thermal energy infrastructure, interconnections, or user connections within their jurisdictions.
The law also requires investor-owned electric utilities to solicit proposals for the development of small (up to 25 megawatts) or large (25 megawatts and above) geothermal power projects. If a utility receives such a proposal, it must submit a project application to the Public Utilities Commission and await approval, with a decision required within 120 days of receiving the application.
Additionally, the law requires the Colorado Energy and Carbon Management Commission (ECMC) and the Colorado Geological Survey to collect data and information related to the state's geological resources. The ECMC shall then make recommendations for the safe and effective development of geothermal resources and report to the General Assembly on or before November 15, 2026.
Governor Polis stated that Colorado is harnessing the heat beneath its feet, noting that geothermal energy is reliable, clean, and low-cost, helping protect residents from fluctuations in natural gas prices. This law will advance geothermal energy development, saving people money on energy costs while protecting the environment. Colorado is open for geothermal business and welcomes innovative clean energy solutions that make energy more affordable, sustainable, and reliable.
Colorado is one of four states that recently announced the formation of the new "Mountain West Geothermal Consortium," which brings together state officials to provide coordinated insights, share resources, and jointly create tools and mechanisms to reduce geothermal investment risks and accelerate geothermal development.
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