Geothermal

“The type of contracts that have been signed so far are for the most part non-binding subject to milestones.”

“The list of clean baseload power generation sources is sadly pretty short, and as far as proven technologies go, sorry, wave power, is really just hydro, nuclear, and geothermal.”

“The oil and gas industry is primed. The infrastructure is there. It's already primed to scale geothermal once the industry, again, is ready to scale. We don't have to wait on new skill sets being built”

“I think that the inflection is, is going to be much slower and happen over the next five years, and that geothermal will really be positioned to take off more so in the 20 thirties than in the late 20 twenties. That's my bet at the moment.”

“Our new administration, our Secretary of Energy in particular, Chris Wright is super bullish on geothermal in general. He likes geothermal and nuclear, and those are the two sort of, like, overlapping clean energy things that, that I think he is full-throatedl…”

“And in those regions, like probably solar is still cheaper on a levelized cost of energy basis than geothermal, even subsidized even when geothermal is subsidized and solar is not for quite some time, but you don't add geothermal because you're competing with,…”

“Most of the United States growth actually happens in those first one to two decades. And for a while, it looks like geothermal is just going to take off. It's scaling faster than any other renewable at the time. And through the 19 eighties, we had gigawatts of…”

“As drilling costs come down, or as demand for clean firm power continues to increase, we see the economic shifting to where you could start to justify new build geothermal using some of these new methods, and even more unconventional locations. We think that t…”

“And so in terms of adding low-cost, firm, renewable energy in the next five to 10 years, we really think there's a chance to add more with geothermal than any other competitive form.”

“Fervo is bringing two major innovations from the oil and gas industry to geothermal. Horizontal drilling and hydraulic fracturing.”

“Geothermal, unlike wind and solar, where you can measure it by observing surface conditions, you have to know about the subsurface resource in order to have high confidence that you can go build a geothermal facility in a place.”

“And now, with all of the additional incentives, you can build a new nuclear reactor, as long as, you know, get some of the bonus credits, like energy communities, etc., at a hundred dollars a megawatt hour. Guess what else is a hundred dollars a megawatt hour?…”

“Basically all of the geothermal that we've built in the United States is in Nevada or California.”

“Oil and gas are fracturing sedimentary rocks. Which tend to be more pliable, plastic, and geothermal is fracturing volcanic rocks, which are brittle and hard, and it's a somewhat different process, and it's a somewhat different result as a consequence.”

“Today, when we do, when we drill wells looking for geothermal, we'll drill 10 wells and get one hot spot. And that's not cost effective. Those wells are very expensive. With Zanskar, they have been proven that they can drill 10 wells and get 90% hit rates, and…”

“Building de novo facilities to power either clusters or giga sites for massive data centers, I think is going to be much, much harder, and they're going to try with small modular reactors, that's a ten-year kind of process, but doing it with geothermal, I thin…”

“And I kind of think about a lot of these companies that are now coming up, these kind of next great climate tech leaders, like Fervo, which is doing next generation geothermal. I think their future is being a development company for geothermal and producing gi…”

“When you don't have that, so what California is facing right now, and they're saying, all right, we're going to get 2000 megawatts of clean, firm baseload, really the only two resources that will fit that are geothermal and biomass, because hydropower in Calif…”

“I just want people to see nuclear, not as some sort of special, unique kind of power, but simply one of the options on the table for balancing longer term Renewable energy. One among others, there are other options. There's geothermal, there's longer term stor…”

“If you look at, for example, in the Midwest, comparing using a fuel to using geothermal, your operating costs, so how much you have to actually spend to heat your home, it's maybe a fifth with geothermal. It's similar in the Northeast, and emissions-wise is si…”

“It's a completely sustainable campus. It has, you know, lots of solar, has geothermal, they grow their own food, they raise their own fish. It's almost entirely its own little ecosystem.”

“Kenya's grid is actually about 75% installed capacity is renewable right now, and about 90% of the energy they produce is renewable. A lot of that is because of the focus on geothermal.”

“So geothermal has exploration risks, so understanding the resource before you start Developing a project, and you have to understand those well enough to get a project financed, and that is a deal breaker for a lot of projects, particularly for startup compani…”

“Every time I read a, an article, for instance, that's talking about you know, how we're sure we're going to heat homes with hydrogen. I literally, I mean, it's a facepalm moment, right? Because geothermal is just so much easier to do than that, right? And so, …”

“If we want to go fast, and we want to do this at scale, we're going to have to leverage that entire industry.”

“First of all, I think geothermal could be really huge for DAC just as a side note, but that's not, like, to say that that's obviously not a alternate energy use that would go somewhere else, right?”