Dig deep: US bets on geothermal to become renewable powerhouse
==========
The US government and several businesses are investing in geothermal energy to make it a backbone of the green transition. Geothermal energy, which draws on naturally high temperatures underground, could overtake hydroelectric and solar power in the US by 2050. The US government has invested over $200 million since 2018 in an experimental site in Utah to develop Enhanced Geothermal Systems (EGS), which involves injecting water into naturally hot rocks. Geothermal drilling does not release hydrocarbons like fracking and provides a steady flow of energy regardless of weather or time of day. The US government estimates that the cost of geothermal energy will drop from $70-$100 per megawatt hour (MWh) to $45 by 2035. Several US and Canadian start-ups are vying for position in the geothermal market and have raised hundreds of millions of dollars from investors. Google, Microsoft, and steel-maker Nucor have announced plans to purchase geothermal energy.
#GeothermalEnergy #RenewableEnergy #GreenTransition #EnhancedGeothermalSystems #Egs #UsGovernment #Investments #Startups #Google #Microsoft #Nucor
https://www.tuko.co.ke/business-economy/542516-dig-deep-bets-geothermal-renewable-powerhouse/
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2024-03-25 03:37:17
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npub15ygdhawp2prr6xlzleujfs0hy9g3yvzgzv6pj49afh5sf5q8tfcqdjzncwPublished at
2024-03-25 03:37:17Event JSON
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"content": "Dig deep: US bets on geothermal to become renewable powerhouse\n==========\n\nThe US government and several businesses are investing in geothermal energy to make it a backbone of the green transition. Geothermal energy, which draws on naturally high temperatures underground, could overtake hydroelectric and solar power in the US by 2050. The US government has invested over $200 million since 2018 in an experimental site in Utah to develop Enhanced Geothermal Systems (EGS), which involves injecting water into naturally hot rocks. Geothermal drilling does not release hydrocarbons like fracking and provides a steady flow of energy regardless of weather or time of day. The US government estimates that the cost of geothermal energy will drop from $70-$100 per megawatt hour (MWh) to $45 by 2035. Several US and Canadian start-ups are vying for position in the geothermal market and have raised hundreds of millions of dollars from investors. Google, Microsoft, and steel-maker Nucor have announced plans to purchase geothermal energy.\n\n#GeothermalEnergy #RenewableEnergy #GreenTransition #EnhancedGeothermalSystems #Egs #UsGovernment #Investments #Startups #Google #Microsoft #Nucor\n\nhttps://www.tuko.co.ke/business-economy/542516-dig-deep-bets-geothermal-renewable-powerhouse/",
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