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Banking Made Easy
Banking Made Easy
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By Michael Johnson and Ben Ratner
As technology companies and others grapple with baseload electricity needs amidst the age of AI, data centers, and electrification, one of the most promising solutions just requires looking down – straight to the Earth’s core.
Next generation geothermal energy harnesses heat from deep underground in new ways to produce zero-carbon electricity at the surface, complementing traditional renewables. This approach represents 24/7 baseload power that is clean and reliable, making geothermal energy an ideal fit for data centers that require a continuous power supply to ensure uptime and reliability.
American entrepreneurs are leading a wave of geothermal innovation that could fill a missing piece in the energy transition puzzle, alongside advancements in nuclear energy and other zero-carbon solutions. The U.S. Department of Energy (DOE) estimates that geothermal power in the U.S. could expand over 20-fold from its current installed capacity, potentially contributing 90 GW of clean, firm energy nationwide by 2050.
While geothermal power has a long history and currently produces about 15 GW of power globally, it has only existed in certain locations where the Earth’s heat occurs near the surface, like the steam-rich Geysers geothermal field in California. Promising next generation technology, just now proving to be commercially viable, taps into deeper geothermal resources which are available across much of the planet—a game-changer for geothermal power growth.