It was standing room only when the U.S. Department of Energy’s Geothermal Technologies Office Director Lauren Boyd stepped onto the stage for a panel discussion atwas the Tuesday morning hot topic, featuring an array of speakers from technology titans S&P Global, Baker Hughes, and SLB ready to discuss the future of the heat beneath our feet.
The lone government official participating in that Tuesday morning conversation, Lauren brought comprehensive expertise that captivated an audience eager to address the many ways geothermal can provide renewable energy options across multiple sectors. And the crowds kept coming—conversations on “What’s New in Geothermal Technology” and “DOE Deploy Dialogue – Next Generation Geothermal” also played out to full rooms.
One key factor driving this interest is rapid and impactful innovation in next-generation geothermal technologies, including in techniques leveraged from O&G. The time and difficulty involved in drilling deep into the earth can make geothermal power generation efforts risky and expensive, and thus stall geothermal’s widespread commercial potential. That’s why improving drilling rates and lowering costs is a core component of GTO’s mission.
In addition to big tech, another group making a surprising splash with their interest in geothermal were private equity firms looking to invest in next-generation energy solutions. Given that, it follows that entities with money to spend are looking to expand their portfolio and focusing on this sector.
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