What It Will Take to Unleash the Potential of Geothermal Power
15th January 2025
There’s enough heat flowing from inside the earth to meet total global energy demand twice over. But harnessing it requires drilling deep underground and transforming that heat into a usable form of energy. That’s difficult and expensive, which is why geothermal power—sometimes called the forgotten renewable—makes up only about 0.3% of electricity generation worldwide.
And that really tells you all you need to know.
Now, though, it’s getting a boost. The recently passed US infrastructure bill set aside $84 million for the Department of Energy to build four demonstration plants to test enhanced geothermal systems, an experimental form of the technology.
“Geothermal is really ready for prime time,” says Tim Latimer, founder and CEO of the EGS startup Fervo.
But not, notice, without government taxpayers paying for it.
I remember a time when everybody didn’t assume that if you couldn’t get the government to pay for something it’s just impossible.