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Interchange Recharged

How is geothermal faring in 2025? Investment is booming but is the technology and policy support there?

Interchange Recharged

Wood Mackenzie

Innovation, Tech News, Climate Change, Energy, Technology, Fossil Fuels, Wind Energy, Solar Energy, Business, Cleantech, News, Renewable Energy, Alternative Energy, 908174, Environment

4.8535 Ratings

🗓️ 15 July 2025

⏱️ 39 minutes

🧾️ Download transcript

Summary

Despite uncertainty for US clean energy investors, things are looking good for the geothermal sector. US$1.7 billion in public funding was pumped into geothermal projects in Q1 this year - 85% of 2024's entire annual allocation – as breakthrough technologies promise to transform untapped resources into commercially viable clean energy projects.

Enhanced geothermal and advanced geothermal technologies are making geothermal energy accessible anywhere, not just at existing sites chosen for their high-temperatures.

To explore the science behind EGS and AGS, host Sylvia Leyva Martinez is joined by John Plack, VP of engineering at Ameresco. John explains how techniques adapted from the oil and gas sector, like directional drilling and reservoir stimulation, are improving geothermal's commercial viability. John shares what’s changed since the IRA’s passage, the role of EGS, and why improved subsurface mapping is critical to unlocking investment.

Geothermal is currently supplying less than 1% of global energy needs, but could provide 15% of worldwide power by 2050. The US leads global geothermal power production, yet its 4 GW of installed capacity leaves vast resources untapped. Total potential US geothermal capacity exceeds 500 GW, with the best sites in western states featuring temperatures above 150°C and heat flow rates exceeding 80 milliwatts per square metre.

Investment is there, and the technology is there, so has the impact of the Trump administration’s energy policy been lighter for geothermal than other sectors like wind and solar? Why?

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Transcript

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0:00.0

We all know by now how much potential there is for geothermal energy. Way back in February

0:06.2

2024 on the podcast, we talked to managers of the Utah Forged Geothermal Facility. At that time, a new

0:13.1

bill had been passed that promised to cut the red tape around geothermal projects. A year and a half

0:18.5

later, has geothermal gone beyond the has potential base,

0:23.0

our costs down, has the technology advanced, and in this much more restrictive policy environment,

0:28.8

what's the outlook for geothermal? I'm Sylvia Liva Martinez and I'm a principal analyst

0:33.3

covering global energy markets at Wood McKenzie. Welcome to the show.

0:38.6

Wood McKenzie's Solar Energy and Storage Summit is back in Denver on the 29th and 30th of April

0:44.4

26.

0:45.9

It's co-located with the brand new North American Power and Renewables Forum, which features

0:51.0

senior speakers from across the U.S. power sector.

0:54.2

Come and join over 450 senior leaders from U.S. power developers, utilities, and independent

1:00.8

power producers to tackle the industry's biggest challenges.

1:04.8

From navigating life after tax credits to capturing the load growth boom, discover how the

1:10.2

energy mix is evolving and how

1:12.0

the US is going to meet that power demand. Seats are limited, so register now at woodmack.com.

1:23.5

There have always been barriers to jet thermal deployment. First, it was the technology, then it was the cost, then it was the permitting and workforce

1:32.4

shortages.

1:33.7

That's not to mention the supply chain issues that are impacting the entire renewable energy

1:38.1

industry.

1:39.1

John Plack is vice president of engineering at Amarisco.

1:42.3

He says that one of the biggest obstacles for geothermal

...

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