From the EERE briefing on the 2008 U.S. Federal Budget...
The Geothermal Technology Program has worked in partnership with industry to establish geothermal energy as an economically competitive contributor to the U.S. energy supply.
Geothermal energy production, a $1.3 billion a year industry, generates electricity or provides heat for direct applications, including aquaculture, crop drying, and district heating, or for use in heat pumps to heat and cool buildings. The technologies developed by this program are providing the Nation with new sources of electricity that are highly reliable and cost competitive and do not add to America’s air pollution or the emission of greenhouse gases. Geothermal electricity generation is not subject to fuel price volatility and supply disruptions from changes in global energy markets.Priorities are focused on technology development with broadly applicable and more readily accelerated public benefits —EERE
While geothermal energy remains an important regional contributor to the Nation’s energy needs, current EERE priorities are focused on technology development with broadly applicable and more readily accelerated public benefits. Therefore, the Department plans to close out the Geothermal Technologies Program. This closeout decision was based upon a review of EERE program funding priorities – which include a broad spectrum of considerations."