Part 7/10:
The key barrier impeding the widespread adoption of next-generation geothermal technologies appears to be economic. The IEA predicts that without government subsidies, the cost of generating electricity from new geothermal plants could substantially exceed that of solar and wind energy. Thus, strategic investments and responsive regulations are critical for the sector’s growth.
Governments around the world must implement supportive funding mechanisms, regulatory frameworks, and insurance schemes to encourage investment. Both Eavor and Fervo have benefited from governmental backing, and such support could fuel investor confidence in the geothermal sector.