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The GEOTHERMAL Act of 2024 establishes a federal grant program through the Department of Energy to provide funding to states, which would then award grants to eligible recipients for deploying networked geothermal heating and cooling systems. Eligible recipients include nonprofits, institutions of higher education, municipalities, multifamily housing developers, utilities, and third-party developers. The bill requires that systems reduce greenhouse gas emissions and meet energy efficiency standards, with priority given to projects serving low-income communities and those without access to private capital. The bill also includes prevailing wage and apprenticeship requirements for construction work on funded projects.
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