Next-Generation Geothermal Energy on the Rise

Major technology companies, including Amazon, Microsoft, and Google, are investing in next-generation geothermal energy, a low-carbon source that could complement solar and wind power. Start-ups like Fervo Energy and Sage Geosystems are racing to tap into the Earth’s heat, using enhanced geothermal systems (EGS) that create their own reservoirs of heated water. While costs are still high, geothermal energy could become a viable option for providing around-the-clock power.

Forecast for 6 months: Expect increased investment in next-generation geothermal energy, with several start-ups announcing partnerships with major tech companies.
Forecast for 1 year: The first commercial geothermal plants using EGS technology are expected to come online, providing a significant boost to the industry’s credibility and potential.
Forecast for 5 years: Geothermal energy is likely to become a major player in the global energy market, with costs decreasing as technology improves and economies of scale are achieved.
Forecast for 10 years: Next-generation geothermal energy could become a dominant source of low-carbon power, complementing solar and wind energy and helping to reduce greenhouse gas emissions.

Tags: industry