Geothermal Isn't Expensive: The Reservoir Always Has the Final Say Somewhere beneath a volcanic ridge, a drill bit is turning through rock that has not moved in two million years. It costs money every second it turns. And nobody on the surface — not the engineer, not the financier, not the minister who announced the megawatts — knows yet whether that well will produce steam or silence. That single moment explains almost everything people get wrong about geothermal energy. Geothermal is routinely described as expensive, slow, capital-hungry and haunted by drilling risk. Investors are reminded that tens of millions can disappear underground before a single megawatt reaches a grid. All of that is true. But it is not the whole truth. The uncomfortable question the industry keeps avoiding is this: is geothermal expensive, or is the way we develop geothermal making it expensive? Those are two completely different problems. One is geology. The other is us. Why Geothermal Refuses to Be...
Ormat's Groundbreaking Geothermal Project in Dominica Signals a Green Revolution in the Caribbean In a bold move to combat climate change, Ormat, a leading renewable energy company, is joining forces with the Government of Dominica to spearhead an ambitious initiative. This groundbreaking project, announced as the world converges at COP28 in the UAE, aims to develop a cutting-edge 10MW binary geothermal power plant in the Caribbean County of Dominica. The move marks a substantial leap forward in the nation's commitment to transition away from fossil fuels and embrace sustainable energy alternatives. At COP28, where global leaders are setting ambitious goals to address the urgent climate crisis, Ormat's collaboration with the Dominican government is a shining example of private and public sectors working hand in hand for a sustainable future. The commitment to developing a state-of-the-art geothermal power plant underscores the shared vision of both parties to reduce carbon ...