Global Geothermal

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🌋 Geothermal's bipartisan boom

Chart: Amy Harder/Axios. Data: Currence Geothermal — power drawn from the Earth's natural heat — is pulling off something remarkable in today's hyperpolarized America: winning fans across the political spectrum, Axios national energy correspondent Amy Harder writes. Why it matters: The bipartisan appeal, combined with surging electricity demand from AI, is helping fuel investment in a niche energy source yet to prove it can compete at scale. Geothermal received unusually extensive attention in a bipartisan Senate bill introduced late last month to cut hurdles for energy projects. The House passed a package this summer containing several of the same geothermal provisions. The rising cachet of geothermal is the product of three trends converging: Technologies adapted from the oil and gas industry, including fracking, are making it possible to tap heat in more places than just far-flung hot springs and volcanoes. Tech companies, on the hunt for reliable electricity, are willing to pay a premium for next-generation geothermal to power data centers. Investment is surging as companies race to scale a renewable energy source that can generate power around the clock. Keep reading.