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The AI Boom Is Driving a Massive Geothermal Energy Revival

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Enhanced geothermal energy, a reliable, zero-carbon source, is attracting significant investment from Big Tech and high-powered investors to meet the massive energy demand spurred by the AI boom.
By borrowing advanced drilling technologies from the oil and gas industry, enhanced geothermal aims to make the energy source abundant and financially feasible in virtually any location on Earth, not just geologically active areas.
Both US public and international energy forecasts predict a dramatic increase in geothermal's share of the global energy mix, with potential growth of up to 300 gigawatts in the US by 2050 and over 800 gigawatts globally.

https://oilprice.com/Alternative-Energy/Geothermal-Energy/The-AI-Boom-Is-Driving-a-Massive-Geothermal-Energy-Revival.html

 

It is somewhat ironic that techniques developed for fracking are now being used to compete against the fossil fuel industry. Apparently it's already economically competitive. 

"According to Lazard’s levelized cost of energy (LCOE) research, the LCOE of geothermal on a per MWh basis ranges from $61-$102. By contrast, the MWh LCOE of nuclear power ranges from $141-$221, while coal spans from $68-$166 and gas peakers range from $115-$221. This analysis underscores the promise of geothermal — it is half the cost of nuclear, the other major source of carbon-free, firm power, and both cheaper and cleaner than coal and gas peaking."

https://fervoenergy.com/geothermal-myth-3-geothermal-is-too-expensive/

 

There's another project underway that plans to drill much much deeper. A company called Quaise Energy is using something called a gyrotron to "drill" holes possibly up to 20 miles deep.The deeper you go, the hotter it gets.  If that turns out to be achievable, that means virtually everywhere on land and  the shallower parts of the sea can can be a source of power

https://www.quaise.com/

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