Catalyst with Shayle Kann How geothermal gets built
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May 29, 2025 In a fascinating discussion, Carl Hoiland, co-founder and CEO of Zanskar, dives into the world of geothermal energy, shedding light on its transformative potential. He explores why geothermal has been overlooked and how it’s experiencing a rebirth thanks to new technologies and partnerships with major companies. Carl explains the meticulous process of project development, emphasizing exploration risk and the critical role of AI in shaping the future of geothermal exploration. With the economic landscape shifting, he shares insights on resource management and the accelerating pace of permitting.
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Geothermal's Early Growth and Stall
- Early geothermal power in the U.S. started strong in the 1960s with rapid growth, especially in areas like The Geysers.
- Growth stalled from the 1990s through the 2000s due to exploration challenges and dry hole risks scaring investors.
High Dry Hole Risk Limits Growth
- Early geothermal tech required high-temperature steam, which is rare and hard to find.
- Many dry holes caused by lack of water or permeability increased risk and scared investors away.
Most Geothermal Resources Are Blind
- Surface manifestations like hot springs are often rare and can mislead exploration efforts.
- Most geothermal systems are "blind," lacking surface indicators, making exploration more challenging.