Geothermal Energy Explained with Cindy Taff

Cindy Taff, the CEO of Sage Geosystems, joins us in this episode to discuss the development of geothermal technology and how it can be used as a viable energy source. She shares her experience in oil and gas, which has enabled the technology of Enhanced Geothermal Systems (EGS) to become feasible in today's market. We explore the cost-effectiveness of geothermal compared to other renewable sources such as wind and solar and how it can be used as an electricity base load or for energy storage solutions. Shee also touches on tax incentives from the Inflation Reduction Act that make geothermal more competitive, the Department of Energy's Earth Shot initiative to drive commercialization, and permitting processes for federally owned properties. Join us for an insightful conversation on technology development![00:01 - 08:38] Opening SegmentIntroducing Cindy to the showFracking and horizontal drilling have revolutionized US energy productionEGS (Enhanced Geothermal Systems) require either drilling or fracturing to create an artificial reservoir in hot rock without water[08:39 - 17:05] Unlocking the Power of Geothermal EnergyGeothermal energy is on the learning curve where wind and solar were 15-20 years agoThe cost of geothermal is currently in the 9-10 cents per kilowatt hour range, while wind and solar are around halfGeothermal can act as energy storage for other technologies by cycling a small volume of fluid in the fracture[17:06 - 26:13] Streamlining Geothermal Permitting in Texas and LouisianaPumping water into a fracture during times of low demand and then releasing it back to the surface when demand peaks to generate electricityCost-competitive energy production is vital for communities to pursueThe effects of raising funds in a series A fundraise[26:14 - 33:40] Closing SegmentIndustrial processes that require both electricity and heat could benefit from geothermal energyGeothermal currently makes up less than 1% of utility electricity generation in the USMost significant challenges are technology and sizeable upfront capital costQuote:That's what I'm excited about where geothermal is. We're on the part of the learning curve where wind and solar were 15 or 20 years ago. We're going to be able to grow it over the next 5 to 10 years." - Cindy TaffConnect with Cindy!LinkedIn: https://www.linkedin.com/in/cindy-d-taff-53b77a57/ Website: www.sagegeosystems.com Download our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/Connect with me on LinkedIn!LIKE, SUBSCRIBE, AND LEAVE US A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in, and Stay Tuned for the Next Episode COMING SOON! Hosted on Acast. See acast.com/privacy for more information.