In April, bipartisan senators introduced the Next-Generation Geothermal Research and Development Act, directing the U.S. Department of Energy to support the commercialization of advanced geothermal technologies.

Geothermal energy extracts heat from beneath the Earth's surface and can provide baseload power with low emissions, drawing support across party lines for its potential to increase energy independence and complement oil and gas drilling expertise.

Enhanced geothermal systems (EGS) fracture underground rock using hydraulic pressure, a method also used in oil and gas drilling that has raised concerns about induced seismicity, according to Gernot Wagner, a climate economist at Columbia Business School.

Quaise, a company spun out of MIT, is developing millimeter wave drilling that uses high‑frequency electromagnetic waves to melt and vaporize rock, eliminating the need for physical drill bits, as explained by communications manager Harry Kelso.

The technology could enable access to geothermal resources at temperatures between 300°C and 500°C, potentially delivering ten times more energy per well and improving economics, Kelso said, though initial costs remain high because conventional drill bits wear quickly in hard rock.

Water use is another consideration; the system requires substantial water initially but is designed to circulate the fluid continuously, according to Kelso.

Fervo Energy, a next‑generation geothermal firm, became the first to list on Nasdaq in May with a valuation near $7.7 billion and has a power purchase agreement with Google for its Utah plant, which is projected to cost about $7,000 per kilowatt, more than four times the cost of solar or wind.

Developers aim to have the Oregon project operational by 2030, but the high capital requirements and uncertain market demand present ongoing challenges.