The iconic Old Faithful Geyser springs to life (every 90 minutes) in Yellowstone National Park’s Upper Geyser Basin on September 18, 2022, in Yellowstone National Park, Wyoming. Sitting atop an active volcanic caldera, Yellowstone, America’s first National Park, is home to more geological hydrothermal features (geysers, mud pots, hot springs, fumaroles) than are found in the rest of the world combined.
George Rose | Getty Images News | Getty Images
The future of clean, renewable energy is underneath our feet. Quite literally.
The core of the earth is very hot — somewhere between 7,952 degrees and 10,800 degrees Fahrenheit at the very center. If we can drill down from the surface into what’s called superhot rock, then we could access the heat of the earth and turn it into a massive source of zero-carbon, always available energy.
A new report out Friday from the Clean Air Task Force, a non-profit climate organization, finds that this category of clean, baseload superhot rock energy has the potential to be cost-competitive with other zero-carbon technologies — while also, very critically, having a small land footprint.
The Clean Air Task Force commissioned a non-profit geothermal organization, the Hot Rock Energy Research Organization, and an international clean energy consultancy, LucidCatalyst, to estimate the levelized cost of commercial-scale superhot rock electricity. They determined that it could eventually cost between $20 and $35 per megawatt hour, which is competitive with what energy from natural gas plants costs today.
This is not reality yet. Currently, there are no superhot rock geothermal energy systems operating and delivering energy, Bruce Hill, the chief geoscientist at Clean Air Task Force and the author of the report, told CNBC. But money is flowing into research projects and companies that are working to develop the technology.
The report posits that superhot rock energy can be commercialized in the 2030s, and argues that its unique set of features — it’s a clean source of inexhaustible baseload energy with a small footprint — make the investment worthwhile.
“It will take public and private investment similar to those being allocated to nuclear, carbon capture, and hydrogen fuels,” Hill told CNBC. “Geothermal programs receive far less funding from Congress and the U.S. Department of Energy than these other programs. Superhot rock geothermal isn’t even in the decarbonization debate — but given a decade or two of aggressive investment it could be producing baseload power — local, energy dense, clean-firm (baseload) and competitive,” from a price perspective.
The graphic here shows that if technology develops allowing the drilling into hot, dry rock, superhot rock geothermal energy can be available virtually anywhere.
Graphic courtesy Clear Air Task Force
Regular versus superhot geothermal
While energy from superhot rocks is not being used now, geothermal energy is being used in a few places where super-hot temperatures exist close to the surface of the earth. Currently, about 16 gigawatts of power come from geothermal globally, according to CATF — that’s less than 0.2% of the world’s total. For comparison, there is 2,100 terawatts of capacity for coal energy globally and 1 terawatt of capacity for energy generated from photovoltaics, or solar panels.
But accessing superhot rock energy involves tapping into hotter, dry rock — which is everywhere, but sometimes far beneath the surface.
The deepest borehole ever drilled in the earth went down almost 8 miles in the Kola Peninsula of Russia in the 1970s, but the rock there was not nearly as hot as 752 degrees Fahrenheit — the minimum required for this type of energy. (Rock starts melting at between 1,112 and 1,832 degrees Fahrenheit, so the functional window for superhot rock geothermal is roughly between 752 and 1022 degrees Fahrenheit, Hill said.)
How far you have to drill to get to 752 degrees depends on where you are. On the edges of the tectonic plate boundaries or near recent volcanic activity, it might be two miles down, Hill told CNBC, but in the middle of a continent you might have to go down 12 miles.
Water would be pumped down into the hole and returned to the earth in a super-heated state known as “supercritical,”, which has the properties of gas and liquid at the same time. That supercritical water would then be directed to power generators.
Conventional geothermal energy systems “have a very small but measurable carbon footprint,” Hill told CNBC. That is why the Hellisheiði ON Power plant in Iceland has a Carbfix crarbon capture plant attached to it. A superhot rock energy system would have some carbon emissions associated with the construction of the plants, but “because the working fluid, water, is injected into dry rock there are no such hydrothermal related carbon dioxide emissions,” Hill said.
To access superhot rock geothermal energy requires drilling down to rock that is 400 degrees Celsius, or 752 degrees Fahrenheit.
Graphic courtesy Clear Air Task Force
Iceland is a leader in investigating superhot rock geothermal energy with its Iceland Deep Drilling Project. A test there suggests one well could produce 36 megawatts of energy, which is five to ten times more than the typical three to five megawatts of energy a conventional geothermal well could generate.
Iceland is well suited to study geothermal energy because of it’s located where the American and Eurasian crustal plates are pulling apart from each other.
“We are replenished with constant supplies of magma energy to feed our geothermal systems,” Guðmundur Ó. Friðleifsson, who served as a coordinator and principal investigator in the IDDP effort for over 20 years, told CNBC. “Magma energy is also at relatively shallow depths and relatively easily accessed, and Icelanders by nature are explorers of Celtic and Norse origin who love to sail into or out to the unknown,” Friðleifsson said.
Beyond Iceland, Italy, Japan, New Zealand and the United States are leaders in superhot rock geothermal, according to Friðleifsson. Other areas on the edges of tectonic plates, including Central America, Indonesia, Kenya and the Philippines, also have some development.
For superhot rock geothermal energy to be commercialized and deployed broadly will require new technology, including rapid ultra-deep drilling methods, heat-resistant well materials and tools, and ways to develop deep-heat reservoirs in hot dry rock.
These are not insignificant, but they are “engineering challenges, not needed scientific breakthroughs,” the CATF report says.
For example, drilling into hard crystalline rock takes a long time with current rotation drill techniques and the drill bits have to be replaced frequently. One potential solution is using energy instead of a mechanical drill.
Quaise Energy is develoing such a drill, building on research from Paul Woskov at MIT. The Quaise drill is being tested at Oak Ridge National Laboratory, according to CATF.
“The solution to drilling is to replace the mechanical grinding process with a pure energy-matter interaction. Sufficient energy intensity will always melt-vaporize rock without need for physical tools,” Woskov told CNBC.
“Directed energy drilling has been considered since the laser was invented in the 1960s, but so far unsuccessfully because the infrared wavelengths are scattered in a drilling environment, the laser sources are of too low average power, and lasers sources are not efficient. We now have gyrotron sources since the 1990s that operate at millimeter-wavelengths that are more robust in a drilling environment, more powerful, and more efficient.”
It will take innovation and investment over coming decades to be able to commercialize terawatts of superhot rock geothermal energy.
Graphic courtesy Clear Air Task Force
‘Very small’ investment so far
So far, private investment in the superhot rock space is “very small,” according to Hill. CATF didn’t have an exact number, but they estimate it’s in the hundreds of millions of dollars at the most, and this includes investments by the Newberry Geothermal Energy consortium for work done 10 or 15 years ago, Hill said.
But it’s getting easier to raise money in the space, according to Carlos Araque, the CEO of Quaise, which has raised $75 million so far, including $70 million in venture capital.
“The first 10 [million] took a lot longer than the other 65 because it was done in the 2018-20 period; things accelerated significantly in the 2021-22 period probably pushed by many investors realizing the need for new tech in this space,” Araque told CNBC. “Investors are increasingly aware that we need to invest now on the technologies that will enable full decarbonization towards 2050.”
Investor Vinod Khosla, the first backer of Quaise, recently talked to CNBC about his belief in backing potentially revolutionary technologies to fight climate change, and pointed to super hot rock geothermal as an example.
“A superhot rock well, like 500 degrees, will produce 10 times the power of a 200-degree well. And that’s what we need,” Khosla told CNBC. “If we can drill deep enough we can get to those temperatures — many, many — all of Western United States could be powered with just geothermal wells, because there’s geothermal everywhere if you go 15 kilometers, 10 miles deep.”
The CATF report said that big tech companies, and their associated deep pockets, could have “an important role” in funding the early development and commercialization of superhot rock energy by buying power purchase agreements or investment dollars to power “rapidly expanding energy intensive operations like data centers,” the report said.
Oil and gas companies could use their resources to help spur development in the superhot rock industry, the CATF report said. “Drilling deep into the Earth to produce energy is the oil and gas industry’s core expertise, which provided innovations that drove a rapid transformation of shale fossil energy resources previously considered impossible.”
The government is also chipping in. The U.S. Department of Energy also has up to $20 million available in funding to develop better and faster geothermal drilling. Also, President Biden’s Bipartisan Infrastructure Law allocates $84 million for the U.S. Department of Energy’s Geothermal Technologies Office to build four pilot demonstration sites of what it calls enhanced geothermal systems, including superhot rock geothermal. Similarly, the Department of Energy recently announced Enhanced Geothermal Shot in an effort to reduce the cost of enhanced geothermal systems by 90%, to $45 per megawatt hour, by 2035.
Over the next two years, homebuilder Lennar is outfitting more than 1,500 new Colorado homes with Dandelion Energy’s geothermal systems in one of the largest residential geothermal rollouts in the US.
The big draw for homeowners is lower energy bills and cleaner heating and cooling. Dandelion claims Lennar homeowners with geothermal systems will collectively save around $30 million over the next 20 years compared to using air-source heat pumps. Geothermal heat pumps don’t need outdoor AC units or conventional heating systems, either.
Geothermal systems use the sustained temperature of the ground to heat or cool a home. A ground loop system absorbs heat energy (BTUs) from the earth so that it can be transferred to a heat pump and efficiently converted into warmth for a home. Dandelion says its ground loop systems are built to last for over 50 years and should require no maintenance.
Dandelion’s geothermal system uses a vertical ground closed-loop system that is installed using well-boring equipment and trenched back into the house to connect to a heat pump. The pipes circulate a mixture of water and propylene glycol, a food-grade antifreeze, that absorbs the ground’s temperature. A ground source heat pump circulates the liquid through the ground loops and it exchanges its heat energy in the heat pump with liquid refrigerant. The refrigerant is converted to vapor, compressed to increase its temperature, then passed through a heat exchanger to transfer heat to the air, which is circulated through a home’s HVAC ductwork.
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Daniel Yates, Dandelion Energy’s CEO, called the partnership with Lennar a “new benchmark for affordable, energy-efficient, and high-quality home heating and cooling.” By streamlining its installation process, Dandelion is making geothermal systems simpler and cheaper for homebuilders and homeowners to adopt.
This collaboration is happening at a time when Colorado is pushing hard to meet its clean energy targets. Governor Jared Polis is excited about the move, calling it a win for Coloradans’ wallets, air quality, and the state’s leadership on geothermal energy. Will Toor, executive director of the Colorado Energy Office, said that “ensuring affordable access to geothermal heating and cooling is essential to achieve net-zero emissions by 2050, and we’re excited to be part of such a huge effort to bring this technology to so many new Colorado homes.”
And it’s not just about cutting emissions – geothermal heat pumps help reduce peak electric demand. Analysis from the Department of Energy found that widespread adoption of these systems could save the US from needing 24,500 miles of new transmission lines. That’s like crossing the continental US eight times.
Colorado is making this transition a lot more attractive through state tax credits and Xcel Energy’s rebate programs. These incentives slash upfront costs for builders like Lennar, making geothermal installations more financially viable. The utility’s Clean Heat Plan and electrification strategy are working to keep energy bills low while meeting climate goals.
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Polestar has removed the Polestar 2 from its US website header in an early sign of how new tariffs will restrict choice and competition for American consumers, thus increasing prices.
The Polestar 2 is Polestar’s first full EV – the original Polestar 1 was a limited-edition plug-in hybrid.
It started production in 2020 in Luqiao, Zhejiang, China, where Polestar and Volvo’s parent corporation, Geely, was founded.
Unfortunately, that interacts with some news that has been getting a lot of play lately: tariffs.
The US has been gradually getting stupider and stupider on the issue of tariffs, apparently determined to increase prices for Americans and decrease the competitiveness of American manufacturing in a time of change for the auto industry.
It is widely acknowledged (by anyone who has given it a few seconds of thought) that tariffs increase prices and that trade barriers tend to reduce competition, leading to less innovation.
It started with 25% tariffs on various products from China, implemented in the 2018-2020 timeframe. Then, in 2024, President Biden implemented a 100% tariff on Chinese EVs, effectively stopping their sale in the US. These tariffs included some exceptions and credits based on Volvo’s other US manufacturing, which Polestar had used to keep the most expensive versions of the 2 on sale in the US, while restricting the lower-priced versions from sale. Nevertheless, they were a bad idea.
Now, in yet another step to make America less competitive and inflate the prices of goods more for Americans, we got more tariff announcements today from a senile ex-reality TV host who wandered into the White House rose garden (which he does not belong in). These tariffs do not include the same exceptions as the previously-announced Biden tariffs.
Apparently this has all been enough for Polestar, as even in advance of today’s tariff announcements, the company suddenly removed its Polestar 2 from its website header today.
The change can be seen at polestar.com/us, where only the Polestar 3 and 4 are listed in the header area. On other sites, like the company’s Norwegian website or British website, the car is still there. The Polestar 2 page is still up on the US website, but it isn’t linked to elsewhere on the site (we’ll see how long it stays up).
We reached out to Polestar for comment, but didn’t hear anything back before publication. We’ll update if we do.
It makes sense that the Polestar 2 would still be for sale elsewhere, as it only started production in 2020. Most car models are available for at least 7 years, so this is an earlier exit than expected.
So it’s likely that all of the tariff news is what had an effect in killing the Polestar 2.
Then again, this is also just the second day of a new fiscal quarter. Perhaps the timing offers Polestar an opportunity to make a clean break – especially now that the lower-priced version of its Polestar 3 is available.
Despite the lower $67.5k base price of the new Polestar 3 variant, that represents a big increase in price for the brand, which had sold the base model Polestar 2 for around $50k originally, before all of these tariffs.
Update: Polestar got back to us with comment, but understandably, it doesn’t say much:
Polestar is a three-car company and Polestar 2 is available for customers now. There are a select number of Polestar 2s in stock at retailers that can be found on Polestar.com, but Polestar 3 and Polestar 4 will be the priority in the North American market.
Volvo decided to build the car in Belgium and export it to the US, but now that new tariffs apply to the EU as well, maybe that low-priced, awesome, fast, small EV will instead stay in Europe instead of being shipped overseas.
This shows how mercurial tariff fiats from an ignoramus are bad for manufacturing, as they mean that companies can’t make plans – and if they can’t make plans, eventually, they’ll probably just write the country making the random decisions out of their plans so they don’t have to deal with the nonsense.
And we’ve heard this from every businessperson or manufacturer representative we’ve talked to at any level of the automotive industry. Nobody thinks any of this is a good idea, because it objectively is not. All it does is make business harder, make the US less trustworthy, make things more expensive, and overall just harm America.
Yet another way that Americans are getting screwed by this stupid nonsense. 49% of you voted for inflation, and 100% of Americans are now getting it. Happy Inflation Day, everyone.
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Lucid Motors (LCID) has now had six straight quarters with higher deliveries. The delivery record comes just as Lucid prepares to begin delivering its first electric SUV, the Gravity, to customers by the end of this month.
Lucid sets sixth straight delivery record in Q1 2025
Lucid delivered 3,109 vehicles in the first quarter, up 58% from last year and topping its previous record of 3,099 set in Q4 2024.
The company also produced 2,213 vehicles at its Casa Grande, Arizona, plant in the first three months of 2025, an increase of 28% from last year. Another 600 vehicles were in transit to Saudi Arabia, where they will be assembled at its new AMP-2 plant, Lucid’s first international manufacturing facility.
At this pace, Lucid will easily top the roughly 10,200 vehicles it delivered last year in 2025 at around 12,500. Lucid will likely see even more growth this year, with customer deliveries of its first electric SUV starting soon.
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During the Gravity SUV’s “celestial arrival” last week in NYC, Lucid’s interim CEO Marc Winterhoff said the EV maker is “nearly finished building all the vehicles that we wanted to build to put them into our studio and for test drives.”
Q4 2022
Q1 2023
Q2 2023
Q3 2023
Q4 2023
Full-year 2023
Q1 2024
Q2 2024
Q3 2024
Q4 2024
Full-year 2024
Q1 2025
Lucid EV deliveries by quarter
1,932
1,406
1,404
1,457
1,734
6,001
1,967
2,394
2,781
3,099
10,241
3,109
Lucid (LCID) EV deliveries by quarter 2023 to Q1 2025
Winterhoff added, “by the end of April, we will resume customer deliveries of the Gravity.” Lucid delivered the first models in December, but they were for employees, friends, and family.
Lucid calls the Gravity a “no compromise” SUV with a range of up to 450 miles, 120 cubic feet of interior space, advanced technology, and sports car-like performance. The Gravity Grand Touring starts at $94,900, while the Touring model will arrive later this year at $79,900.
Lucid Gravity Grand Touring in Aurora Green (Source: Lucid)
The new delivery record comes after Winterhoff told Fox Business last week that Lucid has seen a “dramatic uptick over the past two months” in orders from former Tesla drivers.
Currently, “50% of all the orders we have are from former Tesla owners,” Lucid’s CEO said. Winterhoff added that many are “looking for an option to not continue having a Tesla.”
Will we see the trend continue? Tesla announced earlier today that it delivered 336,681 vehicles in the first quarter, far less than the 390,000 Wall Street analysts expected.
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