Geothermal supplies just 0.4% of the world’s energy today, but it could potentially supply up to 50% of the world’s energy by 2050, according to Carlos Araque, cofounder and CEO of Quaise Energy, who made that prediction at the SOSV Climate Tech Summit 2022 last week during a panel discussion called, “Is this geothermal’s moment?”
Geothermal’s profound impact
Quaise is developing a drilling technique that was pioneered at MIT to reach the hot rock some two to 12 miles beneath the Earth’s surface. Araque was joined by Kathy Hannun, cofounder and president of US residential geothermal company Dandelion Energy. The Dandelion process uses established technology that doesn’t require such deep drilling.
Araque and Hannun went on to not only describe the biggest barriers to scaling up their businesses for the world but also what other geothermal problems they are “itching for people to solve,” according to moderator Candice Ammori, founder of The Climate Vine, which advises climate tech startups.
First, however, the two described why geothermal is so potentially impactful. In addition to being clean and global, geothermal provides a baseload energy source that’s available 24/7. It’s also “the most powerful and abundant renewable on Earth,” said Araque, “Much more so than wind, solar, nuclear, and all fossil fuels combined.”
In addition, Araque said, it’s important to weigh an energy source by its impact on externalities like the environment, land use, and mineral use:
When you look at the [problem] from this lens – how much land use per unit of energy you produce, the amount of materials necessary per unit of energy, and how much carbon dioxide you produce per unit of energy – you start realizing that geothermal comes out way, way ahead of anything else.
Barriers and solutions
To fully tap the resource, however, will be very capital and time intensive. Araque continued:
It’s very hard to achieve anything in our space with a million dollars or even $10 million.
You have to start playing at the $100 million level or even $1 billion level. This is what it costs to get [deep geothermal] developed and deployed at portfolio levels.
Further, the Quaise technology involved in deep drilling has been demonstrated in the lab but not yet in the field. And that will take time.
However, Araque said that by the end of the decade, Quaise aims to create power from a coal- or gas-fired power plant that has been converted to geothermal:
You feed in geothermal steam instead of steam from a fossil-fuel boiler. That in a brushstroke decarbonizes the power plant, and you can repeat that 10,000 times over with other plants.
The key to making deep geothermal a reality? “You leverage the oil and gas industry,” said Araque, who himself comes from fossil fuels. “I think of them as a ready-made workforce, supply chain, and regulatory framework that can push this into the world at the scale that’s required.”
Hannun noted that for Dandelion, simplifying complexity will be key to bringing down the costs associated with using geothermal for heating and cooling of residential homes:
It’s hard to advance our building stock and change all of the buildings that already exist [to geothermal because] they’re all slightly different and there’s a lot of complexity to manage. So a lot of our focus is on making geothermal [heat pumps] as simple to get into homes as it is to install a furnace or air conditioner.
Potential for entrepreneurs
Ammori ended the session by asking Hannun and Araque about remaining geothermal challenges that other entrepreneurs could tackle. Both agreed that better imaging systems to see underground are important. For deep geothermal, Araque said that there’s a need for electronics that can withstand the high temperatures associated with the resource. Hannun noted that anything related to weatherizing homes will help the geothermal heating and cooling industry.
She also stressed that for both her and Araque’s industries:
I would encourage entrepreneurs not to just look at the central core technology, but also the enabling technologies, products, or businesses around permitting, licensing, and transmission. There are [many] things in the ecosystem that need to happen to enable scale.
Araque concluded by noting that the energy transition itself is an unsolved problem:
Don’t for a second think that it’s just a matter of scaling what we have. There’s plenty of space for innovation. This is the greatest challenge of many generations, not just ours, and we need all human capital on the problem.
Photo: Gretar Ívarsson, geologist at Nesjavellir/edited by Fir0002/Public Domain
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The first EV charging hub funded by the Charging and Fueling Infrastructure (CFI) Program in the Eastern US is now online in Deerfield, Massachusetts.
The town installed the region’s first DC fast chargers (four ports), along with four Level 2 chargers, at 59 North Main Street in South Deerfield.
These new charging stations, funded with $2.46 million from the CFI program, are conveniently located near Interstate 91 in Franklin County, the most rural county in Massachusetts, which serves drivers from Connecticut up to the Canadian border.
The hub also features local and regional bus stops and designated bike lanes with secure onsite bike racks. The chargers are meant to cater to everyone: from local residents and visitors to municipal EVs and commercial vehicles that service the region’s businesses, like those in food and beverage manufacturing.
Gabe Klein, executive director of the Joint Office of Energy and Transportation, sees this as a model for future projects:
Multi-modal charging hubs in communities are key to giving more people the choice to ride and drive electric. The Town of Deerfield is showing leadership in building out convenient charging infrastructure that brings new transportation choices to rural and disadvantaged communities while supporting local commerce.
In recent years, Deerfield has experienced increased climate change-driven flooding from nearby rivers, including the Deerfield River, the Connecticut River, and the Bloody Brook. The project incorporates environmental engineering designed to mitigate and adapt to the effects of flooding and climate, including the installation of permeable asphalt and rain gardens, planting of native trees, grasses, and shrubs, and the creation of new greenspace in the center of Deerfield.
The Biden-Harris administration’s CFI Grant Program is expanding EV infrastructure nationwide. It offers grants for projects that complement and expand upon the initiatives of the NEVI program in urban, rural, and disadvantaged and low-income communities. So far, the CFI Grant Program has allocated over $1 billion to nearly 100 projects across the US, encouraging private investments and expanding the EV charging network to make EV ownership more practical and convenient.
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Kia’s upcoming EV4 electric sedan was just spotted testing in the US for the first time. The low-cost EV is expected to make its big debut by the end of the year. Here’s a look at the new model.
The EV4 will round out Kia’s new “EVs for all” master plan launched last year. Kia showcased three new models, the EV3, EV4, and EV5, during its first annual EV Day in October 2023.
During the event, Kia outlined its new global strategy to “lead and accelerate the EV revolution” with a wide range of models priced from $30,000 to $80,000.
Kia plans to rapidly expand its lineup with a series of smaller, lower-priced models. It launched the EV9, its first three-row electric SUV, which is already proving to be a hot seller in the US. Starting at under $55,000, the EV9 is still a great deal compared to others in its class, but Kia plans to go even lower.
The EV3 and EV4 are expected to be among the most affordable electric vehicles when they arrive in the US.
Kia’s new EV4 is now testing in the US
Ahead of its official debut, Kia’s new EV4 sedan was recently caught driving on US streets for the first time.
The latest image from KindelAuto doesn’t reveal much more than what’s been shown in the past, but the fact that it’s now testing in the US is significant.
Kia’s EV3 is already on sale in Korea, starting at around $30,000 (42.08 million won). Earlier this week, the company said its new compact SUV is now available across Europe, starting at around $38,000 (36,000 euros) with a “segment-leading range” of up to 375 miles (WLTP).
Next up will be the EV4. Kia is expected to officially reveal the new EV by the end of the year, with deliveries starting in 2025. It could be as soon as next week at the 2024 LA Auto Show.
The interior will feature Kia’s advanced new ccNC infotainment system with dual 12.3″ navigation and driver display screens. An otherwise minalimalistic design is expected inside.
Kia’s EV4 will also be available in a hatchback variant. Although the hatch is likely aimed at European buyers, it was also recently spotted testing in the US for the first time.
We will learn official prices closer to launch, but the EV4 is expected to start at around $35,000 to $40,000.
Kia is teasing five new vehicles for the US, at least one being a new EV, that will debut at the LA Auto Show next week. Will it be the EV3? EV4?
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Nissan introduced its newest EV, a sleek all-electric sedan, at the Guangzhou Auto Show this week. The N7 is the first Nissan electric vehicle under its new strategy to spark life back into the brand in China.
Nissan hopes new N7 EV can compete in China
Like most foreign automakers, Nissan is struggling to stay afloat in China as homegrown automakers, like BYD, take control of the market.
Nissan hopes to turn things around after Dongfeng Nissan, its Chinese JV, unveiled the new N7 EV sedan at the Guangzhou Auto Show on Wednesday. The N7 is the first next-gen Nissan EV aimed at China as it looks to regain ground in the world’s largest electric car market.
Nissan claims the new model will “redefine the new benchmark for China’s mainstream family pure electric sedans.” It will be the first model built on Dongfeng Nissan’s new dedicated EV platform.
The company promises the new platform offers “a stress-free driving experience, superior comfort, and a suite of intelligent technology.”
At 4,930 mm long, 1,895 mm wide, 1,487 mm tall, with a wheelbase of 2,915 mm, the N7 is slightly longer than the Tesla Model 3 (4,720 mm long, 1848 mm wide, 1,442 mm tall, 2,875 mm wheelbase).
You can see Nissan’s signature V-Motion design in the headlights and front bumpers. Inside, the N7’s infotainment system is powered by a Qualcomm Snapdragon 8295p processor for a faster, seamlessly connected system.
Nissan also partnered with smart driving tech leader Momenta to offer an advanced driver-assist system called “Navigate on Autopilot.” The N7 will be equipped with high-speed navigation NOA, city memory navigation NOA, and full-scenario intelligent parking.
The new N7 EV is set to go on sale in China in the first half of 2025 as Nissan aims to regain relevancy. Nissan’s sales in China fell 5.4% through the first nine months of 2024 after crashing 33% in 2023.
Will the N7 help Nissan reignite the brand in China, or will it continue losing ground to domestic auto brands like BYD and NIO? Let us know what you think of the electric sedan in the comments below.
Nissan isn’t the only legacy automaker developing specific EVs for China. Hyundai is launching a new AI-powered EV in China next year as it looks to counter China’s surge.
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