Establishes a program to fund feasibility studies for converting large multi-family residential units to geothermal energy.

The bill creates the multi-unit residential decarbonization initiative program to provide funding for feasibility studies to convert large, multi-family residential units to non-emitting renewable geothermal energy. The program offers no-interest loans up to $50,000 per building, with higher amounts for larger buildings. The feasibility studies assess technical and economic viability, including costs, energy savings, and emission reductions. The Office of Energy Resources will prioritize applications based on factors like building size and greenhouse gas reduction potential.

Establishes a program to fund feasibility studies for converting large multi-family residential units to geothermal energy.

The bill creates the multi-unit residential decarbonization initiative program to provide funding for feasibility studies to convert large, multi-family residential units to non-emitting renewable geothermal energy. The program offers no-interest loans up to $50,000 per building, with higher amounts for larger buildings. The feasibility studies assess technical and economic viability, including costs, energy savings, and emission reductions. The Office of Energy Resources will prioritize applications based on factors like building size and greenhouse gas reduction potential.