Geologic Energy Management Division: New Technology Program: oil and gas wells: geothermal wells.
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Majority
Fiscal committee
No
Appropriation
No
Current location
Appropriations
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed Assembly
- To Governor
- Became Law
Overview
This bill creates a New Technology Program within the Geologic Energy Management Division to evaluate the repurposing of existing oil and gas wells and geothermal wells for renewable energy storage and generation, including synthetic geothermal resources. It requires the supervisor to approve project proposals and designates repurposed wells as ‘experimental wells’ for the duration of the project, imposing an annual charge to cover regulatory costs. The bill also expands the definition of ‘geothermal resources’ to include oil and gas reservoirs used for thermal energy storage and mandates regular reporting on program activities.
Key provisions
- Establishes a New Technology Program within the Geologic Energy Management Division.
- Requires the supervisor to approve proposals for repurposing oil and gas or geothermal wells.
- Designates repurposed wells as ‘experimental wells’ for a project’s duration.
- Imposes an annual charge on operators of experimental wells to cover regulatory costs.
- Expands the definition of ‘geothermal resources’ to include oil and gas reservoirs used for thermal energy storage.
- Requires the division to develop and publish guidelines for transitioning wells.
- Mandates annual reporting to legislative committees on program activities.
- Creates a fund to deposit annual charges from experimental well operators.
Who is affected
- Oil and gas companies
- Geothermal energy companies
- Geologic Energy Management Division
Bill text
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Sponsors
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1 on record
Primary sponsor
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