Invited Session: Drilling Classifications, Heating & Cooling Commercialization, and Non-Conventional Project Locations for Geothermal Applications

10:00 AM – 10:30 AM - Coming Soon: 2025 Geothermal Market Report

This panel will provide an overview of the data collected and subsequent analysis of the upcoming 2025 Geothermal Market Report. Discussions will include industry representation, (potentially GR), NREL, and DOE’s GTO.

Panelists: 

• Faith Smith, NREL
• Additional panelists TBA

10:30 AM – 11:00 AM - Economic Evaluation of Geothermal Power Systems (Conventional, AGS and EGS), Their Associated Components and Areas for Future Expansion

The U.S. electric grid is becoming increasingly reliant on intermittent sources of generation like onshore wind and solar PV. Clean dispatchable generation will be required to maintain system reliability as countries strive to lower emissions and reduce dependence on traditional fossil fuels. Geothermal has the potential to fit this bill, but conventional projects have been restricted to niche locations in the western U.S. with specific geology (Figure 1). However, new drilling technologies are enabling geothermal projects to be sited outside of traditional areas. This study provides an overview of key drivers of project economics and identifies which locations might be optimal for future expansion. 

Speaker: Graham Bain, Enverus Intelligence Research

11:00 AM – 11:30 AM - IADC's Recommendation For How To Drill Geothermal Wells

The IADC Geothermal Committee presents its inaugural project—the IADC Geothermal Well Drilling Guideline. This international code, encompassing an IADC Classification for geothermal well types, aims to inform the drilling industry, foster sustainable well construction, and gain endorsement from the wider geothermal industry. The guideline, focusing on well design, equipment selection, well control, and safety, supports global geothermal energy development.

Speaker: Shaun Toralde, Weatherford, IADC Geothermal Committee

11:30 AM – 12: 00 PM _ Risk Mitigation Schemes – design, chances and challenges with a focus on the Geothermal Risk Mitigation Facility for Eastern Africa (GRMF)

The presentation outlines the design, chances and challenges of financial geothermal risk mitigation schemes with a special focus on the Geothermal Risk Mitigation Facility (GRMF) as well as provides an outlook on the funding environment in Germany with a new risk fund to be implemented early 2025.

Public risk funds mitigate early-stage exploration and discovery risks, thereby stimulating the market for geothermal projects and encouraging investment in geothermal infrastructure. These funds are essential for enabling the transition to geothermal-based supply systems, particularly in the heat sector. The specific design of these funds often varies depending on the target markets, regional geology, and financing environments. The steering variables are also manifold.

The GRMF is the primary subsidy program for geothermal energy in the East African region providing grants for surface studies and drilling of exploration wells in a total of 13 countries, thus improving access to capital for geothermal projects. By reducing financial risk, GRMF has been instrumental in fostering both public and private investment in geothermal energy, thereby facilitating the region's power expansion strategies. As a result, there are currently approximately 50 geothermal projects in the pipeline, reflecting the growing potential of this market. GRMF so far has conducted seven rounds of calls for power project applications and, since last year, has introduced calls for direct-use projects, such as industrial or agricultural focusing on the high potential for heat applications that come with geothermal energy.

Speaker: Maria Ueltzen, Rödl & Partner GmbH Wirtschaftsprüfungsgesellschaft