U.S. Bureau of Land Management Leases Public Lands for Renewable Energy Development

The Bureau of Property Management announced that it has leased eight parcels of public land totaling about 21,685 acres to produce clean, renewable energy for communities in Beaver and Millard counties through a geothermal lease sale.

(Photo : Photo by Sean Gallup/Getty Images)

Climate Change

Climate change poses an existential danger to human civilization, with several countries aiming for net carbon neutrality by 2050. Companies investing in clean or renewable energy sources have market potential as the globe moves away from fossil fuels. With temperatures expected to rise by more than two degrees Celsius, several countries are looking for methods to replace fossil fuels with renewable energy sources. This opens up a market for investors who want to profit from green energy investments.

Also Read: Hotels Aiming for Net-Zero Might Make Travelling More Environmentally Friendly

Renewable Energy Development

Sustainable Investor Timur Tillyaev and Others Call For More Investment in Renewable Energy

(Photo : Nuno Marques via Unsplash)

Renewable energy is rapidly expanding in the United States, yet fossil fuels continue to dominate. According to a recent Pew Research Center poll, most Americans (77 percent) believe it is more vital for the US to develop alternative energy sources such as solar and wind power rather than create more coal, oil, and other fossil fuels.

On April 12, 2022, the competitive sale raised $794,028 for leases of public property parcels operated by the BLM's Cedar City and Fillmore field offices. This is part of the BLM's efforts to allow 25 gigawatts of solar, wind, and geothermal production on public lands by 2025, in support of the Biden-Harris administration's goal of a carbon-free power sector by 2035, as stated in the Interior Department Outlines Roadmap for Continued Renewable Energy Progress on Public Lands news release.

BLM Plans

The Bureau of Property Management (BLM) oversees enormous swaths of public land with the potential to contribute significantly to the nation's renewable energy portfolio. The BLM provides locations for ecologically sound renewable energy projects on public lands and new transmission ways to link to the grid to help us achieve our clean energy goals.

The first renewable energy project permitted by the BLM for production on public lands was geothermal, which was approved in 1978. Geothermal energy is a sustainable resource that creates power with negligible carbon emissions for up to 24 hours each day, thanks to heat sources deep under the Earth.

Leasing

BLM Cedar City Field Manager Paul Briggs stated, "BLM Utah is committed to processing applications and leases for generating renewable energy on public lands, which supports employment and generates power for our homes." "We will continue to collaborate closely with our partners, Tribes, communities, and local governments to ensure that any energy development optimizes efficiency while minimizing environmental consequences for present and future generations."

An additional three lots in Fillmore and Millard counties, totaling 9,791 acres, were leased in a non-competitive transaction. The BLM Utah geothermal energy website has the summary and outcomes of the Competitive Lease Sale, as well as a list of registered bidders and parcel descriptions, while the ePlanning website has planning materials, such as maps and stipulations from the individual BLM resource management plans.