Geothermal energy
The Houston-based energy company's first generating unit has begun producing electricity as it works toward a buildout that could eventually power nearly 1 million US homes.
With funding opportunities improving, developers and researchers are focused on shortening project learning cycles and reducing uncertainty to attract more capital and speed deployment.
The US Department of Energy has awarded more than $99 million to 21 projects that will advance geothermal development through field-scale testing of next-generation technologies and exploration drilling programs across the US.
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Geothermal systems, which rely on extracting heat from deep within the Earth, face many of the same technical challenges that oil and gas operators have tackled for decades. Geothermal development can be advanced efficiently and economically by applying proven oil and gas technologies. -
The companies have announced they will work together to integrate geothermal well engineering and project delivery globally.
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Closed-loop geothermal systems have entered the new-energy arena to generate electricity using the underground as a heat exchanger.
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The companies said they plan to work together on developing geopressured geothermal systems for low-carbon energy storage and geothermal power generation.
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The agreement aims to accelerate new commercial technologies that address challenges with geothermal development.
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GEODE is a consortium led by Project InnerSpace and the Society of Petroleum Engineers and funded by the US Department of Energy’s Geothermal Technologies Office.
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Geothermal energy in the US has historically been concentrated in the West due to favorable geology, but emerging technologies have expanded the possibilities.
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New IEA Report: Next-Generation Geothermal Can Go Global, But Oil and Gas Industry Must Show the WayThe upstream sector could help unlock geothermal energy’s potential but up to $1 trillion in project spending would be necessary over the next decade, the report says.
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What we’ve learned about faster drilling in oil and gas applied just as well to geothermal development—until we reached The Geysers.
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SponsoredTesting new drilling technology in a controlled and monitored environment before it is launched to its full extent in the field—that is what the Rijswijk Center for Sustainable Geo-energy is all about.
