Based on an article in The Economist by The Economist staff

The article argues that geothermal energy is undergoing a technological revolution that could transform it from a minor, geography-dependent energy source into a global powerhouse capable of rivaling nuclear energy.

Historically, geothermal power accounted for less than 1% of the world's electricity because it required highly specific natural conditions: hot underground rocks, water, and natural porosity/fractures (found in places like Iceland or California).

Today, startups like Fervo Energy are using techniques borrowed from the oil and gas fracking industry—specifically horizontal drilling and hydraulic fracturing—to build Enhanced Geothermal Systems (EGS). By drilling down into hot, dry rock almost anywhere and creating artificial cracks to circulate water, they can harvest heat where traditional geothermal was impossible. Fervo’s Cape Station project in Utah is already proving this at scale, signing historic commercial contracts to power grids and utilities.

While wind and solar are cheap, they are intermittent (they depend on the weather and the sun setting). As tech giants scale up massive, power-hungry data centers to fuel artificial intelligence, they require "firm, flexible, and clean power" that runs 24/7. Geothermal is uniquely suited for this, offering the constant baseline reliability of a fossil fuel or nuclear plant without the greenhouse gas emissions or nuclear waste.

The article also looks toward the future of "Superhot" geothermal energy. Companies like Quaise Energy are working on ultra-deep drilling technologies (using millimeter-wave directed energy beams rather than mechanical drill bits) to penetrate 8 kilometers or deeper into the Earth. At those depths, the extreme heat turns water into a "supercritical state" (neither liquid nor gas), which can unlock vastly more energy per well and significantly reduce the physical footprint of the plants.

Despite the optimism and an influx of capital (projections suggest cumulative global investment could hit $1 trillion by 2035), challenges remain. These include high upfront drilling costs, technical difficulties operating electronic equipment in extreme deep-earth environments, and regulatory hurdles regarding mineral rights and permitting.

The Economist concludes that thanks to recent technological leaps, geothermal energy is finally stepping out of its niche. By combining continuous reliability with near-limitless geographical scalability, it is poised to become a cornerstone of the future clean energy grid.

Link to the article (for subscribers only)