House Bill No. 5358, reported by the Committee on Energy and Technology, proposes a study on the feasibility of establishing a community geothermal pilot program. The Commissioner of Energy and Environmental Protection is tasked with conducting this study and is required to report the findings, including any recommendations, to the joint standing committee of the General Assembly with jurisdiction over energy and technology matters by January 1, 2025. The bill, identified as File No. 364, is effective upon passage and creates a new section in the law.

The fiscal impact statement indicates that the Department of Energy and Environmental Protection (DEEP) may incur a potential cost in Fiscal Year 2025, but no cost is expected in the following years. DEEP is already involved in designing a community geothermal pilot program at an affordable housing complex and plans to seek federal funding for construction. The department has the expertise and resources to report on this pilot program. However, if the report extends to multi-owner community geothermal projects, there could be a one-time cost of approximately $500,000 for a consultant. There is no municipal impact noted, and the bill does not affect the state's finances in the out years.