STEAM Act: Geothermal Energy Projects Get a Regulatory Fast Track

The Streamlining Thermal Energy through Advanced Mechanisms (STEAM) Act makes a key change to how geothermal energy projects are handled under federal law. Essentially, it updates the Energy Policy Act of 2005 to include geothermal resources, specifically bringing them under the umbrella of the Geothermal Steam Act of 1970. (SEC. 2)

Drilling Down the Changes

This act directly amends Section 390 of the Energy Policy Act of 2005. The big change is adding "geothermal" alongside existing references to "gas" in subsections (b)(A) and (b)(B). What this means in practice is that the regulatory processes—specifically the National Environmental Policy Act (NEPA) review—that applied to oil and gas will now also apply to geothermal projects. (SEC. 2)

Real-World Rollout

For a geothermal energy company, this could mean a potentially faster and more streamlined approval process for new projects. Imagine a company planning to build a new geothermal power plant. Previously, they might have faced a different set of environmental review requirements than an oil or gas project. Now, the process is intended to be more consistent, potentially reducing the time and cost associated with getting a project off the ground. For a construction worker or engineer, this could translate to more job opportunities in the geothermal sector as projects become easier to launch. (SEC.2)

Potential Pitfalls

While streamlining can be good for business, it's also worth noting that a faster review process could mean less scrutiny. It will be important to ensure that environmental safeguards remain robust, even as the process speeds up. The long-term implications depend on how effectively the updated regulations are implemented and enforced, balancing the need for renewable energy development with the need for environmental protection.