In April 2026, the Colorado Energy Office announced $12.4 million in grant funding for geothermal energy projects through the state’s Geothermal Energy Grant Program (GEGP) and Geothermal Energy Tax Credit Offering (GETCO). Seven total awardees were announced, with recipients spanning schools, local governments, hospitals, and power developers for both geothermal power production and geothermal heating and cooling projects. Two projects were awarded under GEGP, enabling assessments and subsurface exploration to identify resource potential for geothermal power plants. Five projects were awarded under GETCO, including feasibility studies, detailed system designing, and direct installation of thermal energy networks and ground-source heat pumps. A press release can be found here.
With this latest round of funding, GEGP and GETCO have awarded a combined $42.6 million to geothermal energy projects across the state, advancing Governor Polis’ Heat Beneath Our Feet Initiative to advance geothermal technology adoption in Western states. While this grant announcement marks the last round of grant funding available through GEGP, the GETCO tax credit program is accepting applications for its fifth round of funding until June 30, 2026, with plans to award up to $2.2 million. Legislation is pending to provide GETCO additional funding for its future cycles due to high program demand. For information on all previously awarded projects, please visit the Colorado Energy Office Geothermal Incentive Award Tracker.