Fervo Energy

Challenge

Next-generation geothermal energy is available today to provide 24/7 reliable electricity, create jobs in rural communities, and strengthen American energy security. Recent research from Princeton University found that next-generation geothermal could grow to over 250 GW nationwide by 2050 with today’s technology. Leasing and permitting improvements are critical to unlocking the potential of next-generation geothermal energy to help meet current and future needs for clean, baseload electricity, especially in the context of AI-driven electric load growth.

Solution

BSP helped build bipartisan support for geothermal energy leasing and permitting improvements: In fall 2024, 5 geothermal leasing and permitting bills passed the House on a bipartisan vote. In the Senate, these improvements were included in the Energy Permitting Reform Act which advanced through committee on a bipartisan vote. Both the current Chair and Ranking Member of the Senate Energy and Natural Resources Committee co-led the key legislation, the GEO Act, in the Senate. Against this backdrop of bipartisan support, in January 2025, the Department of the Interior finalized a Categorical Exclusion for Geothermal Resource Confirmation. The common-sense improvements to geothermal permitting will further enable geothermal energy production to flourish and create more economic development opportunities. Moreover, bipartisan success stories on energy provide a blueprint for building a strong foundation for U.S. energy security and reliability.