S.362 - Geothermal Exploration and Technology Act of 2013113th Congress (2013-2014)
|Sponsor:||Sen. Tester, Jon [D-MT] (Introduced 02/14/2013)|
|Committees:||Senate - Energy and Natural Resources|
|Latest Action:||02/14/2013 Read twice and referred to the Committee on Energy and Natural Resources.|
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Summary: S.362 — 113th Congress (2013-2014)All Bill Information (Except Text)
Introduced in Senate (02/14/2013)
Geothermal Exploration and Technology Act of 2013 - Requires the Secretary of Energy (DOE) to: (1) establish a direct loan program for high risk geothermal exploration wells, and (2) give preference to loans to carry out projects that are likely to lead to successful new geothermal development leading to electricity production. Requires data from exploratory wells to be provided to the DOE Secretary (Secretary) and the Secretary of the Interior for use in mapping national geothermal resources and other uses, including subsurface geologic data, metadata, borehole temperature data, and inclusion in DOE's National Geothermal Data System. Requires the Secretary to determine the number of wells for each selected geothermal project for which a loan may be made. Requires: (1) a recipient to commence repayment of the loan beginning on the earlier of four years after the loan is made or when the geothermal facility enters into commercial production, and (2) loans for successful wells to be repaid by the developer within 10 years.
Establishes the Geothermal Investment Fund to carry out such program. Requires amounts repaid on loans to be deposited in such Fund.
Amends the Energy Independence and Security Act of 2007 to require: the Assistant Secretary for Energy Efficiency and Renewable Energy to: (1) establish a program of research, development, demonstration, and commercial application for geothermal heat pumps and the direct use of geothermal energy; (2) identify and mitigate potential environmental impacts; (3) make grants to promote the development of geothermal heat pumps and the direct use of geothermal energy; (4) give priority to proposals that apply to large buildings, commercial districts, and residential communities; and (5) conduct a national solicitation for grant applications.
Amends the Geothermal Steam Act of 1970 to provide that land under an oil and gas lease issued pursuant to the Mineral Leasing Act or the Mineral Leasing Act for Acquired Lands that is subject to an approved application for a permit to drill and from which oil and gas production is occurring may be available for leasing for geothermal drilling in order to provide for the coproduction of geothermal energy with oil and gas, if the lease would serve the public interest.