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Geothermal Energy Grant Program

Colorado’s Geothermal Energy Grant Program

Funding to assist the transition to clean geothermal energy.

 

Funding Overview

Type: Grant
Eligibility: Businesses, Local and Tribal Governments, Public-Private partnerships (may vary by grant subtype)
Amount: $12 million total (at least $650k for Round 4)
Match: Varies
Application Rounds: Current round open until December 31, 2025. The current funding round is anticipated to be the last funding round for the Geothermal Energy Grant Program.

CEO provides grant funding to public and private sector entities to support the development and use of geothermal energy in Colorado. Geothermal energy is a reliable clean energy source for electricity generation, water heating, and space heating and cooling in homes, businesses, and communities. Round 4 of the Geothermal Energy Grant Program (GEGP) is focused on geothermal electricity projects.

Note: Single-structure and thermal energy network projects are not eligible for Round 4 of grant funding. Single-structure geothermal projects may take advantage of the Colorado Heat Pump Tax Credit Program. Thermal Energy Network studies and construction may take advantage of the Geothermal Energy Tax Credit Offering. Please refer to those program pages for details.

For more information, please reach out to ceo_geothermal@state.co.us.
Sign up for Geothermal Program updates

Webinar, Office Hours, and Q&A

Join us for the GEGP Round 4 Informational Webinar on Tuesday, November 12, 2025 at 12:00 PM MT. 
Register for the Webinar

CEO will also host office hours for prospective applicants. The Geothermal Program cannot meet with applicants individually to discuss specific projects.

All questions answered during office hours will be added to the program Q&A responses, which also include answers to questions submitted via email during the Q&A period. The Q&A responses document will be available no later than December 19, 2025.

Eligible Applicants

The following applicant types are eligible to apply for the GEGP Electricity Grant:

  • Political Subdivision of Colorado, including local governments or municipalities
  • Tribal Governments
  • Corporations (must be registered in the State of Colorado)
  • Gas or Electric Service Public Utilities

Other applicant types may be eligible with CEO approval. More specific details about applicant eligibility are available in the program application materials linked in the “how to apply” section.

Eligible Projects

The fourth GEGP application round offers funding for Geothermal Electricity Projects. Round 4 of GEGP will prioritize funding projects that substantially advance geothermal electricity development in Colorado. Specific details about project eligibility and grant award amounts are available in the Request for Applications (RFA) document. Project eligibility is subject to change between application rounds.
 

Scoping Studies

 

Pre-Feasibility Studies

Pre-Feasibility Studies explore geothermal resources for their suitability for electricity generation, storage, and coproduction. Such preliminary assessments evaluate the technical and economic aspects of a geothermal resource to determine whether to continue in the exploration process. They may include:

  • Initial resource assessment: Gathering and reviewing existing geological, geophysical, and geochemical data to identify promising areas for exploration.
  • Field surveys: Conducting surface studies or other geological assessments to better understand the resource characteristics.
  • Economic analysis: Estimating the potential costs and benefits associated with developing the geothermal resource.
  • Environmental considerations: Assessing potential environmental impacts and regulatory requirements that may affect project development. "
     

Feasibility Studies

Feasibility Studies include a more detailed resource assessment of the technical and economic aspects of the geothermal resource to inform project development and should include: 

  • Resource assessment: Detailed analysis of the geothermal resource, including temperature, pressure, flow rates, reservoir characteristics and a final conceptual model.  
  • Engineering design: Development of conceptual designs for the power plant and related infrastructure, including well field layout, water use management, power generation technology, and transmission systems.
  • Economic analysis: In-depth financial modeling to evaluate project costs, revenue potential, and return on investment.
  • Environmental impact assessment: Detailed studies to identify potential environmental impacts and compliance with local regulations, including mitigation strategies.
  • Regulatory and permitting considerations: Assessment of the legal and regulatory framework governing geothermal development in the area. 
     

Test Drilling

Test Drilling confirms the suitability of a geothermal resource through drilling exploration, confirmation wells, and flow testing. 

Please note: Applicants are required to submit pre-feasibility/feasibility studies and a final conceptual model with all required components listed in the Application Checklist. Applicants are also required to submit the project’s Drilling Plan that outlines well locations, drilling techniques, and operational procedures prior to drilling activities taking place. Applicants can propose to use funding to assist with navigating permitting processes, excluding any applicable permit fees. 
 

Field Development

Field Development occurs after a geothermal resource has been confirmed through drilling and testing. This phase prepares the site for geothermal energy production, including the coproduction of geothermal energy, installation of power generation equipment, construction of power infrastructure, and reservoir engineering.

How to Apply

Application materials for each GEGP grant subtype, including RFAs, Grant Application Forms, and supplementary documents, are available in the application materials folder linked below.
View GEGP Application Materials

Step 1.

Review Round 4 GEGP RFA documents to confirm applicant and project eligibility and ensure understanding of program objectives and requirements.

Step 2.

Complete the grant application form specific to the subtype and project phase relevant to the proposed project. 

Step 3.

Review the Grant Application Checklist to ensure completion of all required application documents and supplemental attachments.

Step 4.

Submit completed grant application and required attachments as a .zip via email to ceo_geothermal@state.co.us with the subject line format outlined in the respective RFA document