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illuminem summarizes for you the essential news of the day. Read the full piece on The Economist or enjoy below:
🗞️ Driving the news: Geothermal energy could soon surpass nuclear power, thanks to breakthroughs inspired by techniques from the oil industry, like those used in fracking
This innovation, spearheaded at the FORGE site in Utah, opens new potential for extracting geothermal energy from deep underground hot rocks
🔭 The context: Geothermal energy has long been limited by difficult extraction processes, but advances similar to those that fueled the shale gas revolution may now make it economically viable on a large scale
These developments could lead to a significant expansion in clean, reliable energy sources
🌍 Why it matters for the planet: If scalable, geothermal energy offers a near-infinite, low-carbon source of power that can operate 24/7, unlike solar or wind, making it crucial for reducing dependence on fossil fuels and nuclear energy
⏭️ What's next: As these techniques are refined, geothermal could become a competitive, mainstream energy source, with potential to reshape global energy markets and support decarbonization efforts
💬 One quote: Geothermal energy is “approaching its Mitchell moment,” akin to the shale gas revolution that transformed oil and gas extraction
📈 One stat: The global geothermal power market is expected to grow from 16.6 GW in 2021 to 24 GW by 2030, representing a 44% increase in installed capacity
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