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Geothermal Energy Market Share in CA's Renewable Mix by End of 2025?
5
Southern California Edison•Edison International•Fervo Energy•California•Enhanced Geothermal Systems•Utah•Nevada•Fervo•Tim Latimer
Resolution / Starting Odds
Less than 10% • 33%
10% to 15% • 34%
More than 15% • 33%
California Energy Commission reports
Story
Southern California Edison to Procure 300 MW Geothermal Power from Fervo Energy by 2026
Jun 25, 2024, 07:24 PM
Southern California Edison, a unit of Edison International, has signed a deal to procure geothermal power from Fervo Energy. This marks a significant advancement for geothermal energy, a renewable energy source that harnesses heat from the Earth. Geothermal power plants have been minor contributors to California’s energy landscape for decades but are now poised to play a larger role. Fervo Energy will supply California with 300 MW of Enhanced Geothermal Systems (EGS) starting in 2026. The company also has a 400 MW EGS plant in Utah and a 115 MW unit under construction in Nevada. This development is seen as a major step towards achieving 100% clean energy and reducing reliance on coal and gas plants. Fervo’s CEO, Tim Latimer, stated that the technology is now 'bankable and ready for prime time.'
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