The Future of Geothermal Part 1: Technology Development
Geothermal is a small industry, with just about 14 gigawatts of capacity online globally. But where it matters, it matters a lot. In pockets around the world, geothermal can be not just the cleanest form of power, but also the cheapest. Still, geothermal development is hard -- drilling wells involves similar risks to oil and gas projects, but offers returns more in line with utilities. That risk profile has stunted the growth of geothermal. There are several companies working hard on technologies to de-risk geothermal development and squeeze additional value out of the hot water coming out of the wells. In some cases, they are throwing out the concept of conventional geothermal and starting afresh. Today, Switched On speaks with Hidda Thorsteinsson, managing director for research and innovation at Reykjavik Energy.BNEF users can hear this interview and more, on BNEF<GO> on the Bloomberg Terminal, bnef.com or BNEF Mobile.Switched On is hosted this week by Mark Taylor.See omnystudio.com/listener for privacy information.