Power
Summary
The global surge in energy demand is spurring investment in several sectors, and is bringing renewed interest in areas such as geothermal. The world’s literal hot spots—places such as Iceland, Indonesia, Kenya, and part of the U.S.—are seeing new projects, often as part of testing of advanced technologies such as enhanced geothermal systems (EGS). The U.S. Energy Information Administration in a recent report noted that the first large-scale commercial EGS in the U.S. is expected online in June. Fervo Energy’s Cape Station is a 500-MW, multi-phase development located in Beaver County, Utah.
The Trump administration in December of last year approved an $8.6-million grant that will help Eversource Energy expand the nation’s first utility-led geothermal heating and cooling network in the U.S. Northeast. European countries are the clear leaders when it comes to such initiatives; the European Geothermal Energy Council, or EGEC, has said more than 400 geothermal district heating networks were in service in 2024, with Germany and France leading much of the development.
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