Government of Canada Announces Funding for Geothermal Energy
Ottawa, November 25, 2024 – The Government of Canada today announced significant funding to support the development and deployment of geothermal energy in Canada. The investment will help to reduce greenhouse gas emissions, create jobs, and enhance the country’s energy security.
The funding will be provided through Natural Resources Canada’s Clean Energy for Rural and Remote Communities program. A total of $500 million will be allocated over the next five years to support geothermal energy projects.
Geothermal energy is a clean, renewable source of energy that can be used to heat and cool buildings, generate electricity, and provide industrial process heat. It is a reliable and cost-effective option that can help to reduce Canada’s reliance on fossil fuels.
The Government of Canada recognizes the potential of geothermal energy to contribute to the country’s clean energy future. This funding will help to unlock the potential of this renewable resource and create a more sustainable energy system for all Canadians.
The funding will be used to support a variety of geothermal energy projects, including:
- Exploration and development of new geothermal resources
- Demonstration of innovative geothermal technologies
- Deployment of geothermal energy systems in communities and businesses
- Training and workforce development for the geothermal energy sector
The Government of Canada is committed to working with provinces, territories, Indigenous communities, and the private sector to advance the development and deployment of geothermal energy in Canada. This funding is a key part of that commitment.
Quotes:
“Geothermal energy is a clean, renewable source of energy that can help us to reduce greenhouse gas emissions, create jobs, and enhance our energy security,” said the Honourable Seamus O’Regan, Minister of Natural Resources. “This funding will help to unlock the potential of this renewable resource and create a more sustainable energy system for all Canadians.”
“Geothermal energy is a promising technology that has the potential to make a significant contribution to our clean energy future,” said the Honourable Jonathan Wilkinson, Minister of Environment and Climate Change. “This funding will help to accelerate the development and deployment of geothermal energy in Canada, and support our efforts to achieve net-zero emissions by 2050.”
Background:
- Geothermal energy is a renewable source of energy that comes from the heat of the Earth’s core.
- Geothermal energy can be used to heat and cool buildings, generate electricity, and provide industrial process heat.
- Geothermal energy is a reliable and cost-effective option that can help to reduce Canada’s reliance on fossil fuels.
- The Government of Canada is committed to working with provinces, territories, Indigenous communities, and the private sector to advance the development and deployment of geothermal energy in Canada.
For more information, please contact:
Media Relations Natural Resources Canada 343-292-6100 media@nrcan.gc.ca
Government of Canada to Announce Funding for Geothermal Energy
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