Colorado Energy Office Launches Geothermal Heat Pump Program

Source: RL Martin

On November 14, 2023, the Colorado Energy Office launched the first phase of its Geothermal Energy Grant Program, a $5 million first phase opportunity ($12 million total in future phases) to develop or install geothermal heat pump systems or geothermal electric generation. Colorado's geography presents a unique opportunity to harness the potential of geothermal systems while reducing peak loads and providing access to clean electricity. In spring 2024, a competitive tax credit, Geothermal Electricity Tax Credit, and tax credits for geothermal heat pumps and district heating, will be available as well. These programs are part of Governor Polis' Heat Beneath Our Feet Initiative. Learn more at