Recent legislation in the US aims to boost geothermal energy production by cutting red tape. Experts discuss the potential of geothermal energy, new drilling technology, and the need for innovation to compete. They also highlight environmental concerns, advancements in AI and drilling technology, and the importance of collaboration with the oil and gas sector.
34:51
AI Summary
AI Chapters
Episode notes
auto_awesome
Podcast summary created with Snipd AI
Quick takeaways
US legislation may boost geothermal energy by easing regulations, aligning it with oil and gas rules
Geothermal projects face hurdles like long timelines, drilling costs, but innovation and collaboration can enhance efficiency and competitiveness
Deep dives
Importance of the Proposed Legislation for Geothermal Development
The US House Energy and Commerce Committee recently passed a bill that could greatly impact the geothermal sector by excluding geothermal development from stringent NEPA rules. This change would align geothermal with oil and gas regulations, potentially reducing red tape and enhancing production. Geothermal resources in the US, particularly on federal lands, hold significant untapped potential, with around 30-40 gigawatts awaiting development. Streamlining permitting processes could lead to deploying close to 9 gigawatts of geothermal power production by 2030, contributing to a cleaner energy landscape.
Challenges in Geothermal Development Timelines
The timeline for bringing geothermal projects online, typically spanning five to seven years, poses a significant challenge for commercial viability. The necessity to demonstrate resource existence, secure leases, conduct exploration drilling, and obtain funding all contribute to the lengthy timeline. Improving permitting processes, enhancing geophysical studies efficiency, and addressing environmental regulations are key efforts needed to expedite project development and power generation.
Geothermal Resource Potential and Technology Innovations
Exploration of geothermal resources is akin to the early stages of the oil and gas industry, focusing on locating regions with potential for hot water circulation. Geothermal power production relies on deep drilling to access temperatures suitable for electricity generation, typically starting at 400 degrees. Innovative technologies like horizontal drilling and reservoir creation projects, such as Utah Forge, aim to enhance geothermal efficiency and mitigate environmental impacts by establishing artificial reservoirs in suitable locations.
Cost Reduction Strategies and Collaboration for Geothermal Advancement
Cost efficiency remains a critical factor for geothermal energy adoption, with drilling expenses comprising a substantial portion of project development costs. Initiatives targeting drilling improvements, R&D programs, and collaborative ventures with the oil and gas industry aim to drive down geothermal costs. Leveraging oil and gas expertise in subsurface drilling, encouraging industry collaborations, conducting workshops, and streamlining leasing processes are crucial steps to enhance geothermal's commercial viability and accelerate its widespread deployment.
Recent legislation in the US promises to be a boon for geothermal energy production.
In January, the US House Energy and Commerce Committee passed a bipartisan bill that could have a big impact on the geothermal sector. Effectively putting geothermal on the same footing as oil and gas - by excluding geothermal development from strict NEPA rules – the bill could cut the red tape and boost production in the sector.
Geothermal has a lot of potential. The DOE estimates it could contribute almost 10% of US energy capacity by 2050. New geothermal technology, which uses horizontal drilling to drill multiple wells into geothermal reservoirs from a single location, is a promising start, but more innovation is needed to become cost competitive.
Joining us to discuss the legislation, and the technology that underpins the geothermal sector, are Dr Joseph Moore - Research Professor at the University of Utah and Managing Principal Investigator at Utah FORGE, a geothermal research facility managed by the Energy & Geoscience Institute at the University of Utah, and sponsored by the DOE – and Lauren Boyd, Director of the EERE’s Geothermal Technologies Office, which is sponsoring the Utah FORGE laboratory.
Together they examine the cost, operation and scope for geothermal energy in the US.