Colorado’s Geothermal Energy Grant Program 2024

The Colorado Geothermal Energy Grant Program (GEGP), managed by the Colorado Energy Office (CEO), provides funding to support geothermal energy system development across the state. With the goal of advancing clean and reliable energy solutions, the program’s current funding round (Round 2) offers $2 million, and applications are open until January 3, 2025. This initiative is part of Colorado's broader efforts to promote sustainable energy for homes, businesses, and communities. Eligible applicants include a wide range of entities, such as building owners or operators, campus operators, consultants, developers, geothermal installers, utilities, local governments, and tribal governments. While individual residential property owners cannot apply directly, they can coordinate with eligible geothermal installers or contractors to submit applications on their behalf. Grouped applications for single-structure projects are encouraged, with priority given to low-income, disproportionately impacted, or just transition communities. Round 2 funding supports two primary project types. Single-Structure Projects involve installing geothermal loop systems or ground-source heat pumps for individual buildings, whether residential, multifamily, or nonresidential. Thermal Energy Network Projects focus on studies or the construction of geothermal systems that serve multiple buildings, including ground-source and water-source networks. These projects are limited to two applications per year per entity, and CEO prioritizes projects that would not proceed without grant funding. Geothermal electricity studies and projects, however, are not eligible in this round and must seek funding through the Geothermal Energy Tax Credit Offering available in Fall 2024. To apply, prospective applicants should begin by reviewing the Request for Applications (RFA) to confirm their eligibility and ensure compliance with program guidelines. They must then complete the appropriate grant application form and use the Grant Application Checklist to ensure all required documents are included. Completed applications, along with supplemental materials, must be submitted as a .zip file via email to ceo_geothermal@state.co.us, following the subject line format outlined in the RFA. Informational resources and support are available to applicants. CEO hosts regular office hours every other Thursday to address questions, with all responses added to an online Q&A repository. Resources, including webinars, tax credit information, and funding trackers, are accessible through the CEO’s Geothermal Program portal. Applicants are encouraged to utilize these tools to strengthen their submissions. For further details or assistance, applicants can contact ceo_geothermal@state.co.us. This program represents a valuable opportunity to promote innovative clean energy solutions, supporting Colorado’s transition to sustainable and environmentally responsible energy systems.