There's one renewable that Trump won't cut

Geothermal Energy Rides the Trump Wave

While the Trump administration dismantled tax credits for solar and wind projects, geothermal energy escaped the cuts.

Geothermal projects can start construction as late as 2033 and still claim full federal tax benefits, giving developers nearly a decade of policy certainty.

This policy shift has made geothermal a more attractive option for investors.

Geothermal Energy’s Hidden Potential

Geothermal energy taps heat from deep underground to generate electricity.

Enhanced geothermal systems have made it possible to harness geothermal energy almost anywhere.

The innovation has been championed by Energy Secretary Chris Wright, formerly CEO of fracking company Liberty Energy.

Trump’s Favourable Treatment

President Trump declared an “energy emergency” on his first day back in office, but the list of prioritized domestic resources told the real story.

Alongside oil, gas, and coal sat geothermal heat, the one renewable source.

The Interior Department has fast-tracked three Nevada geothermal projects through environmental reviews.

Geothermal’s Growing Popularity

Google and Meta have signed geothermal deals to fuel their growing data center operations.

Unlike solar panels and wind turbines that depend on weather, geothermal provides constant power around the clock.

The Department of Energy projects geothermal could reach 300 gigawatts of capacity by 2050.

Challenges Ahead

New tariffs on steel and aluminum have increased costs for drilling equipment and heat exchangers.

Conservation groups have raised concerns about the expedited permitting process.

The talent pipeline presents another challenge, with the geothermal industry struggling to attract sufficient expertise.

Conclusion

For an industry that has struggled for decades to escape niche status, the current political moment represents unprecedented opportunity.

Whether that support translates into the massive buildout optimists envision depends on technology continuing to improve and costs continuing to fall.

Source: Link