Alternate Energy Sector Ideas

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>>> US looks to resurrect more nuclear reactors, White House adviser says


Reuters

October 7, 2024

By Valerie Volcovici


https://finance.yahoo.com/news/us-looks-resurrect-more-nuclear-191457261.html


NEW YORK (Reuters) - The Biden administration is working on plans to bring additional decommissioned nuclear power reactors back online to help meet soaring demand for emissions-free electricity, White House climate adviser Ali Zaidi said on Monday.

Two such projects are already underway, including the planned recommissioning of Holtec's Palisades nuclear plant in Michigan and the potential restart of a unit at Constellation Energy's Three Mile Island plant in Pennsylvania, near the site of the worst nuclear accident in U.S. history.

Asked if additional shuttered plants could be restarted, Zaidi said: "We're working on it in a very concrete way. There are two that I can think of."

He declined to identify the power plants or provide further details about the effort.

Speaking at the Reuters Sustainability conference in New York, Zaidi said repowering existing dormant nuclear plants was part of a three-pronged strategy of President Joe Biden's administration to bring more nuclear power online to fight climate change and boost production.

The other two prongs include development of small modular reactors (SMRs) for certain applications, and continuing development of next generation, advanced nuclear reactors.

Biden has called for a tripling of U.S. nuclear power capacity to fuel energy demand that is accelerating in part due to expansion of power hungry technologies like artificial intelligence and cloud computing.

Last week, the Biden administration said it closed a $1.52 billion loan to resurrect the Palisades nuclear plant in Michigan, which would take two years to re-open.

Constellation and Microsoft, meanwhile, signed a power deal last month to help resurrect a unit of the Pennsylvania plant, which Constellation hopes will also receive government support.

Zaidi told the conference that the U.S. Navy on Monday had requested information to build SMRs on a half dozen bases. "SMR is a technology that is not a decades-away play. It's one that companies in the United States are looking to deploy in this decade," he said.

Zaidi also addressed the woes that have beset a separate Biden clean energy goal, to bring 30 gigawatts of offshore wind capacity online by the end of the decade.

The administration shelved offshore wind lease sales this year in both Oregon and the Gulf of Mexico due to low demand from companies, as high costs, equipment issues and supply chain challenges hit other projects.

Zaidi said at least half of the 30GW goal is already under construction and that some of the early snags provide helpful learning for future projects.

"I am pretty optimistic about the next of wave of projects where we will have a domestic supply chain and hopefully better cost to capital relative to what projects are facing right now," he said.

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>>> Big Oil Urges Trump Not to Gut Biden’s Climate Law


The Wall Street Journal

by Collin Eaton, Benoît Morenne

10-6-24


https://www.msn.com/en-us/news/politics/big-oil-urges-trump-not-to-gut-biden-s-climate-law/ar-AA1rLuX7?cvid=54bdd711ae1748c1fe427f19366b02e2&ei=41


Oil companies are conveying an unlikely message to the GOP and its presidential candidate: Spare President Biden’s signature climate law. At least the parts that benefit the oil industry.

In discussions with former President Trump’s campaign and his allies in Congress, oil giants including Exxon Mobil, Phillips 66 and Occidental Petroleum have extolled the benefits of the Inflation Reduction Act. Many in the fossil-fuel industry opposed the law when it passed in 2022 but have come to love provisions that earmark billions of dollars for low-carbon energy projects they are betting on.

Some executives in the largely pro-Trump oil industry are worried the former president, if re-elected, would side with conservative lawmakers who want to gut the IRA. They fear losing tax credits vital for their investments in renewable fuel, carbon capture and hydrogen, costly technologies requiring U.S. support to survive their early years.

At a Houston fundraiser for Trump in May, Occidental CEO Vicki Hollub took her case directly to the candidate, saying tax credits propping up the company’s huge investments in technology to collect carbon directly from the air should be preserved, people familiar with the matter said. The company is building its first $1.3 billion direct-air capture plant in West Texas and aims to erect dozens more in the coming years.

Exxon has also told the Trump campaign it wants to preserve portions of the IRA. It and Chevron, the two largest U.S. oil companies, have promised to pump more than $30 billion combined into carbon capture, hydrogen, biofuels and other low-carbon technologies, virtually all of which rely on tax credits in the IRA to be viable.

Meanwhile, company officials at Phillips 66, a $58 billion U.S. oil refiner, have told members of Congress the IRA’s tax credits are important for its business, people familiar with the matter said. Instead of crude oil, the company’s renewable fuels are made from used cooking oil, vegetable oil, fats and the like, which qualify it for large tax credits.

“There are elements of the IRA that the general industry says would be bad to unwind,” Mark Lashier, CEO of Phillips 66, said in an interview last month. “Everybody is working out their contingency plans for either administration.”

Green politics

Trump has called Biden’s climate efforts the “Green New Scam” and last month promised to cut unspent IRA funds. With the backing of influential conservative think tanks, Republicans in Congress have tried to repeal the law and provisions in it dozens of times and are expected to push for cuts again next year during the legislature’s budget reconciliation.

Oil billionaires are some of Trump’s biggest backers, and the candidate has privately promised to deliver on many of the policies on their wish lists if elected.

Trump hasn’t fleshed out his plans for the climate law.

Energy policy has emerged as a key campaign issue. Trump has attacked Vice President Kamala Harris’s support for a fracking ban when she was a presidential candidate in 2019, a policy she has since backtracked on.

During the presidential debate in September, Harris touted her support for the IRA, which she said had kindled clean-energy investment but also spurred the record oil production levels reached during the Biden administration. If elected, she has promised to back investment in diverse energy sources.

Some oil lobbyists have told Trump’s campaign the industry’s IRA-backed projects will be a boon to U.S. jobs and manufacturing as major oil companies invest billions.

Karoline Leavitt, a spokeswoman for the Trump campaign, said Trump’s policies turned the U.S. into a net exporter of energy.

“He cut red tape and gave the industry more freedom to do what they do best—utilize the liquid gold under our feet to produce clean energy for America and the world,” she said.

Political strategists said Trump may try to rebrand the law, given the support for it among officials and companies in some Republican-leaning states, such as Oklahoma and South Carolina, who see it as a draw for new investments and jobs.

“If we win, we need to take a scalpel, not an ax, to the IRA,” said Sen. Kevin Cramer (R., N.D.). North Dakota is well-known for its booming oil fields in the Bakken Shale. Oil companies there aim to inject industrial carbon dioxide into the ground to recover more crude, which would also make them eligible for carbon-capture subsidies.

The industry’s support for the IRA only extends so far. Many oppose tax credits for renewable energy and purchasing electric vehicles, saying those incentives undermine competition with gas- and diesel-powered vehicles. Smaller frackers, which aren’t investing in low-carbon technologies, mostly dislike the entirety of the law.

In recent months, Biden’s administration has signaled it is rushing to fund clean-energy projects from a $400 billion lending program created by the IRA. A second Trump administration might slow-walk spending by federal agencies meant to support those projects, said Gordon Huddleston, president of investment firm and natural-gas producer Aethon Energy Management.

“The DOE would just slow down giving out money in a Trump administration,” he said.

A small, vocal faction of GOP budget hard-liners could make it difficult for Trump to preserve even parts of the IRA. The law would make for a tempting target to offset fiscal deficits as the party pushes to renew its 2017 tax cuts next year.

Big bets

The oil industry has fought Biden’s administration for years on restricting fracking, rules for drilling in the Gulf of Mexico and other environmental regulations. But companies that are investing in low-carbon projects stand to lose much if Biden’s climate law is repealed or watered down.

Occidental, one of America’s largest oil producers, is betting big on a largely unproven technology—at a large scale—to suck carbon dioxide from the atmosphere and store it underground.

The process is costly and Occidental has said benefits from federal subsidies of $180 per metric ton of CO2 captured that way and stored permanently will boost the endeavor. Its CEO has for years personally lobbied in Washington to increase the value of the credits.

Bolstered by the IRA, Phillips 66 has transformed a 128-year-old Rodeo, Calif., oil refinery into one that can pump 50,000 barrel-per-day of renewable diesel and aviation fuel.

But the economics of producing renewable fuels are challenging and some of the refiner’s competitors, including Chevron, BP and Shell, have scaled back on similar plans this year. Losing IRA credits would make the business even more difficult.

Oil-and-gas companies are stressing that the IRA is valuable to the country’s economy now in hopes of avoiding tougher conversations after the election, lobbyists said.

“It’s really striking the degree of commitment the industry has made to low-carbon businesses like carbon capture, biofuels and hydrogen,” said Daniel Yergin, the vice chairman of S&P Global and a veteran chronicler of energy trends.

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>>> 5 amazing ways that hydrogen-powered tech could transform our future


by Sophia Rocha

Yahoo Tech

October 5, 2024


https://www.yahoo.com/tech/5-amazing-ways-hydrogen-powered-110008553.html


Hydrogen power is becoming an increasingly attractive energy source — mainly because when burned, it releases water vapor instead of the harmful pollution that comes from dirty energy sources like oil and gas.

What's more, there are some incredibly surprising ways that hydrogen fuel is already providing the energy that could power our future.

Hydrogen-powered ships

"This will be a world-class oceanographic research vessel."

The preliminary designs for a hydrogen-hybrid research vessel for the University of California San Diego's Scripps Institution of Oceanography have been approved by the American Bureau of Shipping. The proposed ship will run on hydrogen for 75% of its energy, with the other 25% coming from clean-running diesel generators.

In 2018, the naval architecture and engineering firm Glosten successfully completed a feasibility study on the vessel, kickstarting the design project. With this approval, Glosten and Scripps can move forward with finding a contractor to begin the ship's construction.

Enormous cranes

The potential impact of this program is almost unfathomable.

The world's first hydrogen-powered crane became operational in the Port of Los Angeles just this year. A regular diesel-powered crane releases emissions equivalent to burning 400 barrels of oil per year.

Though the single crane in Los Angeles is part of a pilot program, engineers hope that it can provide findings that suggest equal performance to diesel-powered cranes.

Ultra-efficient passenger ferries

"There's great potential here."

San Francisco recently launched the first-ever hydrogen-powered passenger ferry. The MV Sea Change is running for a six-month trial period, making trips from the downtown San Francisco ferry terminal to Pier 41. During trials, the ferry is free of charge.

The vessel holds 75 people, can run for 16 hours, and travel 345 miles before needing to refuel, and its only byproduct is water. Shipping accounts for 3% of the world's carbon pollution, so ships powered by hydrogen could have major benefits.

High-powered garbage trucks

The waste management industry is cleaning up its act.

Waste management is also getting in on the hydrogen-powered action with a new Class 8 fuel cell-powered garbage truck. The new clean-energy truck is the brainchild of Hyzon, a global hydrogen fuel cell developer, and New Way Trucks, a garbage collection equipment manufacturer.

Waste and recycling company Bigbelly reported that refuse trucks are the worst contributors to vehicle pollution on a per-mile basis in cities. Switching to hydrogen-powered refuse trucks could greatly reduce the emissions from waste management services.

A new kind of aircraft

"Imagine being able to fly ... with no emissions except water."

Joby Aviation's electric vertical takeoff and landing aircraft flew over 500 miles powered by hydrogen fuel cells and electricity. Joby's goal is to have a fleet of clean-energy air taxis to reduce pollution and traffic jams in major cities.

The aircraft's all-electric prototype could previously only travel 100 miles on a single charge but has hugely increased range with the addition of hydrogen fuel cells, which provide more energy without harmful emissions.

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>>> First-ever compact nuclear reactor runs for 8 years without water


Brighterside News

by Joseph Shavit


https://www.msn.com/en-us/money/other/first-ever-compact-nuclear-reactor-runs-for-8-years-without-water/ar-AA1rC21T?cvid=91bb3ea6de3c4228b0388152d3d42bcf&ei=64


In a groundbreaking development poised to reshape the energy landscape of Saskatchewan, Canada, a compact nuclear reactor with the capacity to operate for eight years without water is set to come online by 2029.

Announced by the Saskatchewan government, the $80 million CAD project, led by the Saskatchewan Research Council in collaboration with Westinghouse, aims to demonstrate the capabilities of this innovative microreactor, known as eVinci.

Premier Scott Moe expressed optimism about the project's transformative potential, emphasizing its unique ability to cater to Saskatchewan's energy needs while also heralding a greener future. "Microreactors provide a custom solution for Saskatchewan’s unique energy needs," said Premier Moe.

Westinghouse, the company behind the eVinci, asserts that this technology will not only revolutionize energy production but also significantly reduce air pollution. According to Westinghouse, each eVinci unit will contribute to a yearly reduction of up to 55,000 tons of air pollution.

One of the key features of the eVinci microreactor is its impressive versatility. It will have the capability to generate five megawatts of electricity, produce over 13 megawatts of high-temperature heat, or operate in combined heat and power mode, according to the Saskatchewan Research Council.

To put this in perspective, the Nuclear Regulatory Commission reported in 2012 that a single megawatt of capacity from a conventional power plant can meet the energy needs of 400 to 900 homes in a year.

Westinghouse views the eVinci microreactor as a groundbreaking technology that holds great promise for future energy requirements.

Microreactors are notable for their portability and potential to provide power to remote and underserved locations. The U.S. Department of Energy confirms that various types of microreactors are currently in development across the United States.

In terms of physical installation, the eVinci microreactor will be above ground and occupy a relatively small footprint. Remarkably, the supporting infrastructure for the unit can fit inside a standard hockey rink. This compact design allows for easy integration into existing power grids and facilitates pairing with renewable energy sources.

One of the most noteworthy aspects of the eVinci microreactor is its innovative "heat pipe technology," which eliminates the need for water to cool down the system. Unlike traditional nuclear reactors, which rely on vast quantities of water for cooling, the eVinci's cooling system is water-independent.

Moreover, after approximately eight years of service, the eVinci unit can be removed for disposal, making way for a replacement unit, all according to Westinghouse. The simplicity of this design, often likened to that of a battery, enhances its appeal as a sustainable and efficient energy source.

In the United States, there are currently 54 commercial nuclear power plants, as reported by the Energy Information Administration, and Canada boasts six nuclear power stations, according to the Canadian government.

Despite their impressive energy output, traditional nuclear power plants generate substantial amounts of nuclear waste—approximately 2,205 tons per year in the U.S., which is less than half the volume of an Olympic swimming pool.

However, the waste generated by these plants consists of ceramic pellets, eliminating the risk of hazardous radioactive materials. Researchers are continually exploring innovative methods, such as utilizing bacteria, to manage and reduce this waste more effectively.

Westinghouse's approach with the eVinci microreactor is markedly different. The company plans to take responsibility for the used fuel, either returning it to their facilities or securely storing it deep underground for long-term safekeeping.

This design not only mitigates the risks associated with high pressure and coolant loss but also allows for the extraction of valuable heat for industrial applications.

The initial eVinci unit is being hailed as a proof-of-concept, paving the way for future installations. Saskatchewan Research Council CEO Mike Crabtree affirmed the significance of this pioneering project, emphasizing its role in preparing the council to assist communities and industries in future endeavors.

"What we learn through this project will prepare [the council] to assist communities and industries in future projects," stated Crabtree in the official press release.

"Westinghouse is proud to be working with the team at SRC on this vital project, and for the support from Premier Moe and the Government of Saskatchewan," Westinghouse President and CEO Patrick Fragman said. "The eVinci™ battery technology is the perfect fit for Saskatchewan since it is fully transportable. It also provides carbon-free electricity and heat, uses no water, and can be completely removed from site after operating continuously for eight years or more."

SRC is Canada's second largest research and technology organization. With nearly 350 employees, $232 million in annual revenue and 76 years of experience, SRC provides services and products to its 1,600 clients in 22 countries around the world. SRC safely operated a SLOWPOKE-2 nuclear research reactor for 38 years before decommissioning it in 2021.

With its compact design, water-independent cooling system, and potential to harness industrial heat, the eVinci microreactor showcases the possibilities of modern nuclear technology. As the first of its kind, it serves as a harbinger of a cleaner, more sustainable energy future for Saskatchewan and beyond.

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>>> India, US sign pact to cooperate on critical battery mineral supply chains


Reuters

by David Lawder


https://www.msn.com/en-us/money/companies/india-us-sign-pact-to-cooperate-on-critical-battery-mineral-supply-chains/ar-AA1rFjTP?ocid=BingNewsSerp


WASHINGTON (Reuters) -Indian Trade Minister Piyush Goyal and U.S. Commerce Secretary Gina Raimondo signed an agreement on Thursday to cooperate on strengthening supply chains in the two countries for lithium, cobalt and other critical minerals used in electric vehicles and clean energy applications.

The Commerce Department said in a statement that the memorandum of understanding (MOU), signed during Goyal's visit to Washington, was aimed at building resilience in the sector for each country.

"Priority areas of focus include identifying equipment, services, policies and best practices to facilitate the mutually beneficial commercial development of U.S. and Indian critical minerals exploration, extraction, processing and refining, recycling and recovery," Commerce said.

Goyal, speaking at a Center for Strategic and International Studies in Washington after the signing, described the MOU as a multi-dimensional partnership that would include open supply chains for materials, technology development and investment flows to promote green energy.

He said the U.S. and India would also need to include third countries in their engagement, including mineral-rich countries in Africa and South America.

The MOU, which Reuters first reported was in the works on Monday, falls far short of a full critical minerals trade deal that would allow India to benefit from the $7,500 U.S. electric vehicle tax credit.

Japan last year signed a deal with the U.S. Trade Representative's office that allows Japanese automakers to more fully participate in the credit, aiming to reduce U.S.-Japanese mineral dependence on China and prohibiting bilateral export controls on lithium, nickel, cobalt, graphite, manganese and other minerals.

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>>> Michigan nuclear plant finalizes federal loan to support first reactor restart in U.S. history


by Spencer Kimball

CNBC

9-30-24


https://www.msn.com/en-us/money/companies/michigan-nuclear-plant-finalizes-federal-loan-to-support-first-reactor-restart-in-us-history/ar-AA1rtQJP?ocid=BingNewsSerp


The Palisades nuclear plant in Michigan has closed a $1.5 billion loan to support the first reactor restart in U.S. history, the Department of Energy announced Monday.

Palisades’ owner, Holtec International, hopes to restart the plant in the fourth quarter of 2025, subject to approval by the U.S. Nuclear Regulatory Commission. Holtec is a privately held nuclear technology company headquartered in Jupiter, Florida.

“All necessary funding has now been secured,” said Nick Culp, a Holtec spokesperson. The company will use the funds for inspections, testing, restoration, rebuilding, and replacement of equipment at the plant, according to the Department of Energy.

Holtec has completed all major licensing submittals to the NRC, Culp said. Company executives expect to receive a response from the NRC sometime in 2025, he said.

The restart of the reactor at Palisades would mark a milestone for the nuclear industry after a decadelong wave of reactor shutdowns in the U.S. Palisades ceased operations in 2022 after a period in which nuclear efforts struggled to compete with cheap and abundant natural gas.

Demand for nuclear power is growing as the U.S. seeks carbon-free energy to meet rising electricity demand while meeting its climate goals. The planned restart at Palisades blazed a path for Constellation Energy’s recent decision to bring Three Mile Island back online by 2028.

“We’ve been using all of the tools in our tool belt to support the nuclear energy sector, keep reactors online, and to bring them back, and to finance advanced reactor deployment as well,” David Turk, deputy secretary at the Department of Energy, told reporters on a call ahead of the announcement.

Electricity demand is expected to increase about 15% over the next few years as artificial intelligence drives the need for data centers and domestic manufacturing continues expanding, Turk said.

Microsoft has agreed to purchase power from Three Mile Island to help power its data centers. In the case of Palisades, the power is spoken for by Wolverine Power Cooperative, a nonprofit that provides electricity to rural communities in Michigan.

Palisades will support 600 jobs in Covert Township, near Lake Michigan, and provide enough power for 800,000 homes, Turk said.

Holtec plans to nearly double the capacity of Palisades in the 2030s by building new designs called small modular reactors at the site. These smaller reactors, which are prefabricated in several pieces, promise to speed deployment of nuclear power by reducing costs and making plants simpler to operate.

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>>> Hyliion’s KARNO Linear Generator Now Qualifies Under California’s Renewables Portfolio Standard (RPS)


Business Wire

September 27, 2024


https://finance.yahoo.com/news/hyliion-karno-linear-generator-now-123000413.html


AUSTIN, Texas, September 27, 2024--(BUSINESS WIRE)--Hyliion Holdings Corp. (NYSE: HYLN) ("Hyliion"), a developer of sustainable electricity-producing technology, today announced that its innovative KARNO™ linear generator is now an eligible technology under California’s RPS, following the passage of Assembly Bill 1921 by Governor Newsom. This inclusion allows the KARNO technology to play a pivotal role in delivering low-emission energy solutions, using renewable fuels such as landfill gas, biogas, hydrogen, and others to meet California’s climate goals.

The RPS program requires 60% of retail electricity sales to come from renewable energy sources by the end of 2030, with a target to reach 100% carbon neutrality by 2045. The program incentivizes the adoption of clean technologies to reduce greenhouse gas emissions, driving innovation in renewable energy generation. The KARNO generator’s qualification can contribute to these goals by offering a versatile, fuel-flexible power source, capable of leveraging over 20 fuels including renewable natural gas, hydrogen and ammonia for low to zero-emission energy generation.

"We believe the KARNO technology holds tremendous potential to deliver clean, efficient power generation urgently needed in today’s growing energy markets," said Thomas Healy, Founder and CEO of Hyliion. "California is leading the way in green initiatives, and we are excited to support their energy goals through our cutting-edge technology, helping to create a more sustainable and resilient energy future."

To learn more about the Assembly Bill 1921, visit: https://leginfo.legislature.ca.gov/faces/billTextClient.xhtml?bill_id=202320240AB1921.

To learn more about the Hyliion KARNO generator, visit www.hyliion.com.

About the KARNO Generator

The KARNO generator is a linear heat generator that leverages advanced 3D metal printed components and proprietary flameless oxidation technology to produce clean electricity. Modular in design, the generator is expected to show an improvement in fuel efficiency, require significantly lower maintenance costs and have a much lower emissions profile than conventional generators. It is also capable of operating on over 20 different fuels, including hydrogen, natural gas, propane, ammonia and conventional fuels.

About Hyliion:

Hyliion is committed to creating innovative solutions that enable clean, flexible and affordable electricity production. The Company’s primary focus is to provide distributed power generators that can operate on various fuel sources to future-proof against an ever-changing energy economy. Headquartered in Austin, Texas, and with research and development in Cincinnati, Ohio, Hyliion is initially targeting the commercial and waste management industries with a locally deployable generator that can offer prime power as well as energy arbitrage opportunities. Beyond stationary power, Hyliion will address mobile applications such as vehicles and marine. The Company aims to offer innovative, yet practical solutions that contribute positively to the environment in the energy economy. For further information, please visit www.hyliion.com.

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>>> US announces $3 billion in funding for new battery projects


The Verge

by Justine Calma

9-20-24


The US Department of Energy announced today plans to dole out more than $3 billion to over two dozen battery projects across 14 states. The money will go toward processing critical minerals, building batteries and their components, and recycling batteries. It’s part of the Biden administration’s push for more domestic manufacturing to support its climate goals.

Batteries are an increasingly hot commodity needed for electric vehicles and to store renewable energy from solar and wind projects. New battery facilities are cropping up all over the US thanks in part to federal support in the form of grants, loans, and tax incentives.

New battery facilities are cropping up all over the US

The funding comes from the Bipartisan Infrastructure Law passed in 2021. The 25 projects announced today have been selected for awards, but will still need to go through a negotiation process with the Department of Energy (DOE) and complete an environmental review to receive any money. The DOE predicts the funding will create 12,000 jobs, 8,000 of which would be in construction.
Two projects chosen to potentially receive the largest sums of money are meant to produce lithium from brine, each tentatively earmarked to receive up to $225 million in funding. A joint project between Standard Lithium and Equinor in Lewisville, Arkansas is expected to produce up to 45,000 metric tons per annum of battery-quality lithium carbonate over two decades.

The second project, led by TerraVolta Resources in the Texarkana region, is estimated to have the capacity to produce 25,000 metric tons of lithium carbonate equivalent each year once it’s operating. That’s enough lithium for some 500,000 EVs, according to the DOE project description.

This is the second round of funding in a program led by the DOE’s Office of Manufacturing and Energy Supply Chains (MESC). The first round of funding, announced in 2022, funneled $1.82 billion into 14 battery material and manufacturing projects.

China still leads global battery production with nearly 85 percent of the world’s capacity to produce battery cells. It also processes more of the critical minerals used in batteries than any other country. The Biden administration recently announced higher tariffs on batteries and battery parts from China, raising tariffs rates from 7.5 to 25 percent. And the administration structured the EV tax credit so that it only applies to vehicles with batteries manufactured in the US.

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Geothermal - >>> Tech companies are making an incredible investment in a surprising source of energy: 'Enormous potential'


The Cool

by Kristen Lawrence

9-18-24


https://www.msn.com/en-us/money/other/tech-companies-are-making-an-incredible-investment-in-a-surprising-source-of-energy-enormous-potential/ar-AA1qCejL?ocid=BingNewsSerp&cvid=006b22fe4f1b4738985f042a075e7f6d&ei=26


Meta and Google are digging deep to power their energy-hungry data centers, exploring new drilling techniques that will allow them to tap into vast amounts of geothermal power right beneath our feet.

As The New York Times reported, big tech companies are facing an energy crunch, as the AI boom is fueling skyrocketing demand for cheap, abundant electricity. While some tech giants have turned to wind and solar power to meet soaring energy needs, they can't generate electricity in certain weather conditions.

However, geothermal energy can essentially run 24/7 since heat from the Earth's core is always available, making it an ideal solution.

Meta is taking it one step further with a plan to harness up to 150 megawatts of heat energy — enough to power around 70,000 homes — using an innovative method to tap into this inexhaustible power source.

Per The Times, it has partnered with geothermal startup Sage Geosystems to harvest the heat to produce clean electricity, using fracking techniques similar to the oil and gas industries.

However, instead of extracting dirty, polluting fuels, Sage will be drilling for renewable thermal energy. As fractures are created deep below the Earth, water is pumped underground and heats up as it passes through small cracks. The hot water is then pumped back up to power turbines that produce pollution-free electricity.

According to a Sage press release, the project "would be the first use of next-generation geothermal power east of the Rocky Mountains" — although the company didn't disclose an exact location. Sage and Meta expect the first phase of the groundbreaking project to launch in 2027.

Google has also started tapping into geothermal power by teaming up with Fervo Energy, another geothermal startup, to construct Project Red — a 5 MW pilot project in northern Nevada helping to decarbonize Google's data centers.

Google recently announced it has expanded the partnership to bring an additional 115 MW of geothermal power to Nevada's grid, contributing to its goal of running its data centers and offices on 100% green energy by 2030.

While geothermal accounts for less than 1% of America's energy mix, that's expected to increase drastically as green technologies advance.

Iceland, which has capitalized on geothermal at a large scale for decades with its volcanic activity under large parts of the country, has continued to innovate in the area in recent years, but proximity to a volcano is not necessary to harness the Earth's power.

A Department of Energy report found that geothermal energy production could reach 90,000 gigawatts or more by 2050, unlocking plenty of cheap, clean energy for businesses and households.

"Geothermal has such enormous potential," Energy Secretary Jennifer Granholm said at an energy conference in March.

"We're going to need every tool in the arsenal," Michelle Solomon, a senior policy analyst at the nonprofit Energy Innovation, told The Times. "In the near term, enhanced geothermal might play a relatively small role, but I feel very optimistic about where the technology is going."

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