Geothermal … so hot right now.
In the world of climate, there are a lot of giant, hairy problems and a lot of “wtf!” moments—but there are also moments when ancient methods meet modern advancement to create opportunities with huge, important potential to mitigate climate change. So let us tell you a little about geothermal energy.
Geothermal harnesses the heat from the Earth's core to generate electricity. The stable, reliable energy is ubiquitously available, requires relatively few resources and has a smaller footprint than other renewable energy sources (3X less than solar and 10X less than wind).
And geothermal is versatile! From electrical power plants, to industrial processes like cement or hydrogen production, to residential heating and cooling—our endlessly giving Earth can provide zero-emission energy on a variety of scales to serve different purposes.
The geology of the Earth's crust can vary greatly from one location to another, and not all areas are suitable for economically feasible geothermal energy production with currently available technology— which makes financing large projects a challenge. Today, only 0.5% of renewables-based installed electricity generation capacity comes from geothermal. But, through the magic of scientific innovation and entrepreneurial guile, recent advances in data analytics and machine learning have made it possible to identify suitable sites more accurately to reduce risk and unlock project financing.
By analyzing data on geological features, temperature, and other factors, companies can make more informed decisions about where to invest in geothermal energy. If companies can unlock a data-based approach to site and technology choice, then we can solve the finance problem and develop geothermal at scale. If you or someone you know is building a company that can advance geothermal, please reach out!