Enhanced geothermal energy is emerging as a promising alternative to traditional fossil fuels and other renewable sources.
The technology behind enhanced geothermal energy draws on techniques developed in the oil industry, particularly through the process of fracking. Unlike traditional geothermal methods that rely on vertical drilling to access steam, enhanced geothermal employs horizontal drilling to create pathways for water to interact with hot rocks deep underground. Recent advancements have demonstrated that the temperature remains stable, raising questions about the longevity of these systems and their potential to provide consistent energy output for years to come.
Fervo Energy's recent achievements highlight the rapid advancements in enhanced geothermal technology. The company reported a remarkable tripling of peak output per well within just one year. This was accomplished through the implementation of longer lateral drilling, larger well diameters, and increased spacing between input and output wells. Looking ahead, Fervo Energy anticipates a more modest 50% increase in output over the next year by further optimizing drilling techniques.
The cost of energy generated from enhanced geothermal is becoming increasingly competitive, particularly when compared to firmed solar and wind energy, as well as fossil fuels. In many regions, the estimated costs are projected to be lower than those associated with new nuclear power plants. The Department of Energy has set ambitious goals for reducing the cost of enhanced geothermal energy, aiming for $60-$70 per megawatt-hour (MWh) by 2030 and $45/MWh by 2035. Fervo's advanced drilling techniques are already meeting the 2030 target in many areas, with some western locations achieving the 2025 goal ahead of schedule.
As the energy sector continues to evolve, the importance of diversifying power sources cannot be overstated. Enhanced geothermal energy offers a reliable and clean power source that can complement solar and wind, ensuring a more resilient energy grid. The potential for enhanced geothermal energy is vast, with projections suggesting that the capacity could reach up to ten times the current U.S. nuclear capacity by 2050. Continued investment and innovation in the sector will be essential for meeting the growing demand for clean, reliable energy.