Directs the Department of Energy to run a milestone-based financing program that funds next-generation geothermal electricity projects in low-permeability and impermeable rock formations, with priority for regions that have little or no geothermal power today.

• Amends Section 615 of the Energy Independence and Security Act of 2007 to add a Milestone-Based Geothermal Demonstration Program.
• Requires the Secretary of Energy to award financing through a competitive process tied to technical and financial milestones, to at least three projects in at least three States from at least three project sponsors.
• Prioritizes projects in regions with limited or no geothermal generation, including on or near Indian land, and projects of at least 30 megawatts or that advance drilling innovations.
• Authorizes appropriations of such sums as are necessary to carry out the program and related existing provisions.

• Science, Space, and Technology Committee (House)

Energy