India · Republicans · New York · BBC Technology
Quaise is continuing to raise funds, with the aim of its Oregon project being up and running by 2030
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
◌ Single Source
Like other early versions of geothermal systems, it's an expensive project to get up and running.
Key facts
- Fervo anticipates that geothermal power from its Utah plant will cost roughly $7,000 per kilowatt of electricity
- It's the same techniques and up to a point it's the same industry as well," sums up Gernot Wagner, a climate economist at Columbia Business School in New York
- Quaise is continuing to raise funds, with the aim of its Oregon project being up and running by 2030
- In May, the Texas company Fervo Energy generated huge interest by becoming the first next-generation geothermal company to become publicly traded
Summary
It's hard to get Democrat and Republican politicians to agree on much at the moment, but the benefits of geothermal energy is one rare area of consensus. Geothermal energy makes use of natural heat below the Earth's surface and the next generation of technology can access hotter, deeper and more varied locations than ever before. Broadly, the low greenhouse gas emissions of geothermal plants appeals to liberals, while conservatives like the additional energy independence of geothermal, plus the use of drilling technology familiar in the oil and gas industry. Some US states are trying to accelerate permits for geothermal plants and in April senators from both parties introduced the Next-Generation Geothermal, external Research and Development Act. The legislation would direct the Department of Energy to support the development and commercialisation of the next generation of geothermal energy systems.