The demand for electricity from data centers is increasing, leading to more geothermal energy installations in terms of both quantity and price. Recent developments, particularly in the U. S., indicate a shift towards renewable energy solutions.
• Increased Demand from Tech Giants: A report by Guosheng Securities highlights that U. S. tech companies, particularly under Trump's requirements, may have to cover their own data center energy needs, prompting interest in off-grid power systems.
• Geothermal Potential: The global geothermal capacity is estimated at about 162 GW, significantly exceeding current capacity. The U. S. and parts of Asia (especially Indonesia) have a combined potential of approximately 35.0 GW and 74.3 GW, respectively.
• Current Investments: Major companies like Meta and Google are investing in geothermal projects. For instance, Meta signed a 150 MW agreement for geothermal power in New Mexico, with expected operations starting in 2030.
• Rising Costs: The price for geothermal energy purchase agreements, especially for AI data centers, has surged to over 100 USD/MWh, which is a 45% increase from prior pricing.
As data centers increase their electricity demand, geothermal energy is gaining traction, leading to more projects and higher costs. Concerns remain regarding environmental risks associated with geothermal installations, especially in tectonically active areas like the U. S. West Coast.
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