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Showing posts from January 18, 2026

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"US Geothermal Tax Credits 2026: What the IRA/45Q Changes Mean for Developers"

By Robert Buluma Alphaxioms
US Geothermal Tax Credits in 2026: What Is Actually Still Alive After OBBBA For an industry that spent more than a decade building financial models around a stable federal incentive structure, 2026 has been a year of whiplash. The 30% federal geothermal tax credit that developers and homeowners built forecasts around is gone in one form and still alive in another, and even the IRS’s own public guidance has been confusing enough to trigger uncertainty across the market. That confusion is not a minor clerical issue. It is shaping investment decisions, contractor sales pitches, homeowner timelines, and project finance assumptions right now. If you work in geothermal, the key question is no longer whether federal incentives exist, but which incentive applies, to which project type, and under what ownership structure. The law that changed the timeline To understand where things stand in 2026, you have to start with the Inflation Reduction Act of 2022, which created a long runway for clean e...
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Newpark's TerraTherm™ Powers Croatia's Deepest Geothermal Well: Drilling to 4,280 m at 198°C

By Robert Buluma Alphaxioms
Revolutionizing Geothermal Drilling: How Advanced Fluids Conquered Croatia's Deep, Hot Wells By: Robert Buluma Welcome back to Alphaxioms Geothermal News, your go-to source for the latest in renewable energy innovations from around the globe. Today, we're diving deep—literally—into a groundbreaking case study from Croatia that's pushing the boundaries of geothermal exploration. In a region where renewable energy is gaining serious momentum, Newpark Drilling Fluids has just wrapped up a project that's not only a technical triumph but also a beacon for sustainable drilling practices. Leveraging their TerraTherm ™ geothermal drilling fluid technology, they enabled safe and efficient drilling in a high-temperature well exceeding 4,000 meters. This isn't just another drill job; it's a story of innovation overcoming extreme challenges in Eastern Europe's budding geothermal sector. Let's break it down step by step, from the hurdles to the heroic solutions and t...
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Himachal Pradesh Pioneers Geothermal Revolution to Become India's First Green Energy State by 2026

By Robert Buluma Alphaxioms
Himachal Pradesh is taking bold steps to unlock its geothermal energy potential, positioning itself as a pioneer in India's renewable energy landscape.  By:  Robert Buluma Image: Himachal Pradesh Geothermal Hotsprings Chief Minister Thakur Sukhvinder Singh Sukhu recently announced during a high-level review meeting with senior officers that the state is actively pursuing the harnessing of geothermal resources. This move forms a critical part of the government's long-term strategy to combat climate change, achieve energy security, and reduce dependence on fossil fuels. The announcement, made on January 22, 2026, in Shimla, underscores Himachal Pradesh's ambition to become India's first Green Energy State by 2026. The target is clear: meet over 90% of the state's energy needs—currently around 13,000 million units annually—through renewable sources. While the state has long excelled in hydropower, generating substantial clean power from its rivers, it is now diversifyi...
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Earth’s Heat on Hold: Why Switzerland Just Paused a Major Geothermal Dream

By Robert Buluma Alphaxioms
Harnessing Earth's Fury: The Pause in Switzerland's Geothermal Ambitions By: Robert Buluma In the heart of Switzerland, where alpine peaks pierce the sky and pristine lakes mirror the eternal snow, a quiet revolution was brewing beneath the surface. Imagine tapping into the planet's own fiery core to power homes and heat communities—clean, renewable, and seemingly infinite. That's the allure of geothermal energy. But in the quaint region of Inwil and Perlen in Kanton Luzern, this dream has hit a snag. The Zentralschweizerische Kraftwerke AG (CKW), a key player in Switzerland's energy landscape, has slammed the brakes on a promising geothermal project. Announced in 2023, the initiative promised to deliver electricity to 4,000 households and heating to 6,500 more, all from the depths of the Earth. Yet, as of January 21, 2026, it's on indefinite pause. Why? The underground didn't cooperate as hoped. This story isn't just about a stalled drill; it's a w...
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Manchester’s Hidden Geothermal Power Could Redefine Urban Energy

By Robert Buluma Alphaxioms
Beneath the Pavement: Manchester’s Hidden Geothermal Power Could Redefine Urban Energy By:  Robert Buluma What if the future of clean energy isn’t offshore, on rooftops, or in remote landscapes—but buried silently beneath the concrete of our cities? In Manchester, scientists have just delivered a powerful reminder that the ground beneath our feet may be one of the UK’s most underappreciated energy assets. Beneath a modest car park at the University of Manchester lies a geothermal resource capable of supplying clean, continuous energy on a scale that could power tens of thousands of homes. This is not a speculative vision or a distant ambition. It is the result of rigorous science, modern geophysical imaging, and a rethinking of how cities can participate in the energy transition. And it could change everything.  A Breakthrough Hidden in Plain Sight The discovery emerged from a knowledge exchange project between the University of Manchester and Metatek, a remote sensing compan...
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Polish Geothermal Energy: Hot Waters Over 100°C Discovered in Podhale

By Robert Buluma Alphaxioms
Breakthrough in Polish Geothermal Energy: Hot Waters Over 100°C Discovered in Podhale By:  Robert Buluma Image:  Polish Geothermal Energy: Hot Waters Over 100°C Discovered in Podhale In late December 2025, Poland's Chief National Geologist, Professor Krzysztof Galos, announced a significant discovery in the Podhale region: access to geothermal waters exceeding 100°C. This revelation came from the Bańska PGP-4 borehole in Szaflary, marking a potential turning point for renewable energy in the country. The drilling rig at the Bańska PGP-4 site in Szaflary, Podhale , a symbol of Poland's ambitious push into deeper geothermal resources. The Unique Geology of Podhale The Podhale basin, nestled between the Tatra Mountains and the Pieniny Klippen Belt, has long been recognized as Poland's premier geothermal hotspot. Its geological structure is unparalleled in the country: a reservoir formed by Paleogene sandstone-shale formations up to 3 km thick, overlying Mesozoic carbonate rock...
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ISOR New High-Temperature Downhole Fluid Sampler 

By Robert Buluma Alphaxioms
New High-Temperature Downhole Fluid Sampler – A Major Step Forward in Geothermal Research and Sustainable Utilization By:  Robert Buluma January 17, 2026 Alphaxioms Geothermal News Iceland’s geothermal resources have long been the cornerstone of the country’s energy independence, providing nearly 100% of space heating and a substantial share of electricity production from renewable sources. Since its establishment, the Icelandic Institute of Natural History’s geothermal division — today known as ÍSOR (Iceland GeoSurvey) — has placed strong emphasis on research, innovation, and the development of cost-effective technologies to meet the challenges of geothermal utilization. The latest milestone in this continuous effort is the successful development and field deployment of a high-temperature downhole fluid sampler, capable of collecting authentic reservoir fluid samples at extreme temperatures. What is the High-Temperature Downhole Fluid Sampler and Why Does It Matter? In convention...
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Mercury NZ Delivers Fifth-Generation Unit at Ngā Tamariki – Strengthening Clean Energy Supply

By Robert Buluma Alphaxioms
Advancements in Geothermal Energy: New Zealand's Ngā Tamariki Expansion Leads the Way By:  Robert Buluma Image:  Mercury NZ Delivers Fifth-Generation Unit at Ngā Tamariki – Strengthening Clean Energy Supply Geothermal energy, harnessed from the Earth's internal heat, represents one of the most reliable and sustainable sources of renewable power available today. Unlike solar or wind, which depend on weather conditions, geothermal provides consistent baseload electricity, making it a cornerstone for energy security in regions with suitable geological features. As the world grapples with climate change and the need to transition from fossil fuels, geothermal is gaining renewed attention. In 2026, global investments in geothermal are surging, with projections indicating annual funding could reach nearly $9 billion by 2030. This growth is driven by advancements in next-generation technologies, such as enhanced geothermal systems (EGS), which expand accessibility beyond traditional ...
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Quaise Energy’s 2026 Breakthrough: Superhot Geothermal Meets Millimeter Wave Drilling

By Robert Buluma Alphaxioms
Quaise Energy's Bold Vision for 2026: Pioneering Superhot Geothermal and Millimeter Wave Drilling By: Robert Buluma Image: Quaise Energy’s 2026 Breakthrough: Superhot Geothermal Meets Millimeter Wave Drilling In the rapidly evolving world of renewable energy, few announcements capture the imagination quite like those promising to unlock vast, untapped sources of clean power. On a recent post shared by Carlos Araque, CEO of Quaise Energy, the company declared 2026 as a transformative year—one that could redefine how humanity accesses the Earth's heat for electricity generation. Araque's message highlights groundbreaking progress in two key areas: superhot geothermal energy and millimeter wave drilling. These innovations aim to deliver always-on, zero-carbon power at unprecedented scales, potentially revolutionizing global energy security and sustainability.  What is Superhot Geothermal? Traditional geothermal energy taps into hot water or steam reservoirs near the Earth...
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Ormat Technologies Co-Leads $97M Series B in Sage Geosystems

By Robert Buluma Alphaxioms
Ormat Technologies Co-Leads $97M Series B in Sage Geosystems: A Defining Moment for Next-Generation Geothermal By:  Robert Buluma Image:  Ormat Technologies Co-Leads $97M Series B in Sage Geosystems The global geothermal sector has just crossed another strategic inflection point. On January 21, 2026, Ormat Technologies Inc. (NYSE: ORA),one of the world’s most experienced and vertically integrated geothermal companies,announced a $25 million equity investment as co-lead in an over $97 million Series B funding round for Sage Geosystems Inc., a fast-rising pioneer in next-generation geothermal and energy storage technology. The funding round was co-led by Ormat Technologies and Carbon Direct Capital ,signaling not just financial confidence, but deep industrial and climate-aligned convictionn Sage’s technological pathway. More importantly, this investment is tightly coupled with an existing commercial agreement between Ormat and Sage, marking a rare alignment of capital, technolo...
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Alphaxioms Interviews Rystad Energy: Geothermal's Inflection Point, Policy, and Drilling Breakthroughs

By Robert Buluma Alphaxioms
Geothermal at an Inflection Point: Why Policy, Conventional Resources, and Drilling Breakthroughs Will Define the Next Decade This interview was conducted by Robert Buluma on behalf of Alphaxioms,  responses delivered by  Alexandra Gerken Product manager, Geothermal solution at Rystad Energy   Introduction: The Strategic Crossroads for Geothermal Geothermal energy is entering a decisive phase. After decades of steady but regionally concentrated development, the sector now faces a confluence of technological innovation, policy ambition, and market demand that could either unlock global scale or confine geothermal to niche applications. Alexandra Gerken, Product Manager for Geothermal Solutions at  Rystad Energy , offers a clear-eyed assessment of where the industry stands, which technologies will drive near-term growth, and what must happen for geothermal to become a globally significant source of firm, low-carbon power. Her analysis emphasizes three pillars: the imme...
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Green Therma Selects H&P to Drill Denmark’s Longest Geothermal Well

By Robert Buluma Alphaxioms
Green Therma Selects H&P to Drill Denmark’s Longest Geothermal Well for Aalborg Heat4Ever Demonstration Denmark is moving from geothermal ambition to execution. Green Therma has selected Helmerich & Payne to drill the Heat4Ever demonstration well near Aalborg, a project that could become one of the country’s most technically ambitious geothermal developments and a meaningful test of closed-loop district heating.   A milestone for Danish geothermal The Aalborg Heat4Ever project matters because it is designed to prove that geothermal heat can be delivered without relying on a natural hot-water reservoir. Instead of producing groundwater from a conventional geothermal field, the system uses a closed-loop pipe-in-pipe design that circulates the same fluid downhole, heats it in contact with hot rock, and returns it to the surface for district heating use.  That distinction is important for Denmark, where district heating is already a major part of the energy system ...
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Serbia Advances Mišeluk Geothermal District Heating Project in Novi Sad

By Robert Buluma Alphaxioms
Serbia Advances Geothermal Drilling for the Mišeluk District Heating Plant in Novi Sad Serbia is moving forward with plans to develop a geothermal district heating system in Mišeluk, a rapidly urbanizing area of Novi Sad. The project is intended to place geothermal energy at the centre of a new low-carbon heating network, supported by solar power and natural gas backup. Exploratory drilling and construction of the heat distribution network are being carried out by JKP Novosadska toplana, Novi Sad’s public district heating utility. The initiative is supported through the United Nations Development Programme’s “Geothermal Energy in Serbia” programme, with financial backing from Slovakia.  The Mišeluk project is important not only because it could provide a new renewable heat source for Novi Sad, but also because it demonstrates how geothermal energy can be integrated into urban development from the earliest planning stages. Rather than retrofitting a geothermal system into an establi...
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North America Geothermal Energy Investment Opportunities, Companies, Resources, and Market Outlook

By Robert Buluma Alphaxioms
Investment Opportunities in North American Geothermal Energy North America is entering a new investment cycle in geothermal energy. The United States offers the region’s deepest commercial market and the largest advanced-geothermal pipeline; Mexico provides proven high-temperature volcanic resources and an established utility-scale industry; while Canada presents an earlier-stage opportunity centered on sedimentary-basin geothermal, direct-use heating, closed-loop systems, and oil-and-gas technology transfer. The investment case now extends well beyond conventional geothermal power plants. It includes enhanced geothermal systems, advanced closed-loop systems, geothermal heat pumps, district heating, industrial heat, geothermal storage, lithium extraction from geothermal brines, data-center power, and hybrid renewable-energy projects. In the United States, utilities had already procured or agreed to procure 1,007 MW of next-generation geothermal capacity through 12 power-purchase agreem...
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New Mexico Tribal Geothermal Development: Energy Sovereignty, Jobs, Investment

By Robert Buluma Alphaxioms
New Mexico’s Tribal Lands Poised for Geothermal Development: Opportunity, Challenges, and Pathways to Energy Sovereignty Image:  Located in Lordsburg, Lightning Dock is the only utility scale geothermal power plant in New Mexico. (BLM New Mexico via Flickr) Why geothermal matters for New Mexico tribes, nations, and pueblos Geothermal energy uses heat from the earth to produce electricity or heat buildings directly. For New Mexico — a state with abundant subsurface heat resources — geothermal offers a reliable, low‑emission complement to wind and solar. Unlike intermittent renewables, geothermal provides baseload power capable of supporting grid stability and reducing reliance on fossil fuels. For tribal communities, geothermal has particular appeal: it aligns with many Indigenous values around stewardship, can be developed with relatively low water demand compared with some thermal technologies, and offers long‑term revenue, jobs, and enhanced local control over energy resources. E...
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Innargi Geothermal drives Europe's renewable district heating decarbonisation from Aarhus to Poland

By Robert Buluma Alphaxioms
Innargi Geothermal, Decarbonising Europe's Heat, One City at a Time In an era defined by the urgent need to decarbonise Europe’s energy systems, one critical sector often remains overlooked, heating. Accounting for a substantial portion of the continent’s energy consumption, the heating sector has long been dominated by fossil fuels and biomass. Enter Innargi Geothermal, a Danish company on a mission to change that, one community at a time. Founded in 2017 by A.P. Møller Holding , Innargi has rapidly evolved from a single-project venture in Aarhus into an international geothermal energy company with a growing portfolio across Northern and Eastern Europe. By applying decades of subsurface expertise from the oil and gas industry to the untapped potential of geothermal energy, Innargi is industrialising geothermal district heating at a scale never before seen in the European Union. This article takes a deep dive into Innargi’s operations, exploring its revolutionary business model a...
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NYC Subway Thermal Energy Network Pilot: Geothermal Heat Capture, Radiant Cooling, Seasonal Storage

By Robert Buluma Alphaxioms
New York’s Subway Heat Turned into Winter Warmth: The City’s First Transit Thermal Energy Network Pilot Turning platform heat into usable energy — what the Chambers Street and Brooklyn Bridge–City Hall pilot means for urban energy systems New York City has launched a study to design and test a Thermal Energy Network (TEN) that would capture excess heat from two of Lower Manhattan’s hottest subway stations and reuse it to heat nearby municipal buildings. The proposed pilot, centered on the Brooklyn Bridge–City Hall 4/5/6 complex and the Chambers Street J/Z station, is notable for being the first time TENs are being considered inside a U.S. transit system. The plan pairs radiant cooling on platforms with geothermal borehole storage under an abandoned center platform at Chambers Street, converting otherwise wasted heat into a supply that can be stored seasonally and delivered to surrounding municipal facilities during colder months. This initiative sits at the intersection of urban heat r...
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Nowy Dwór Mazowiecki GT-1 Thermal Water Exploration Well: Project Overview, Funding, and Investment Potential

By Robert Buluma Alphaxioms
Nowy Dwór Mazowiecki GT,1 Thermal Water Exploration Well: Project Overview, Funding, and Investment Potential Project background and objectives The town of Nowy Dwór Mazowiecki signed grant agreement No. 52/2025/Wn07/FG,hg,dg on 20 February 2025 with the National Fund for Environmental Protection and Water Management (NFOŚiGW) under the “Making Poland’s Thermal Waters Accessible” priority program. The grant fully funds the execution of a single exploration and appraisal borehole, Nowy Dwór Mazowiecki GT,1, aimed at locating and characterizing geothermal waters for heating, recreational and balneotherapy uses. The direct objective is to perform geological works to identify and appraise thermal water resources and to make them available for municipal and commercial uses. The drilling target is one borehole to a design depth of 2,070 m (±10%). The project’s declared operational target is to assess thermal water yield and temperature to determine suitability for district heating, spa, recr...
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€200 Million Dutch Geothermal Financing Accelerates Sustainable Greenhouse Heat Growth

By Robert Buluma Alphaxioms
€200 Million Financing Accelerates Dutch Geothermal Energy Cluster in Centraal Oostland A new financing framework of up to €200 million is set to accelerate the development of a major geothermal energy cluster in Centraal Oostland, a greenhouse horticulture region in South Holland, the Netherlands. The facility, arranged by ING and Rabobank for renewable heat infrastructure platform 85 Degrees Renewable, will support the next phase of geothermal development in the region. The funding is expected to finance new geothermal wells, expand heat distribution infrastructure and strengthen the long-term growth of an integrated renewable heat platform serving greenhouse growers. The transaction is significant not only because of its size, but also because it demonstrates the growing ability of geothermal heat projects to attract institutional and bank financing. It highlights a shift from treating geothermal energy as a collection of individual drilling projects toward developing integrated hea...
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Dynelectro, Syntholene, and the Geothermal SOEC Breakthrough in Iceland

By Robert Buluma Alphaxioms
Dynelectro, Syntholene, and the Geothermal SOEC Breakthrough in Iceland Dynelectro’s role in the Syntholene Iceland project highlights a major shift in how the market should think about SOEC technology. For years, solid oxide electrolysis cells have been seen as highly efficient but too difficult to commercialize because of stack degradation, short operating life, and the complexity of integrating them into real industrial systems. This project helps challenge that view by showing how geothermal integration, advanced power electronics, and system-level design can make SOEC a credible industrial solution.   The most important takeaway is simple: the market has often misunderstood SOEC as a technology limited by chemistry alone, when in fact a large part of the challenge is operational. Dynelectro’s approach shows that if the stack is controlled properly and supported by the right electrical architecture, SOEC can move much closer to commercial viability. The Syntholene Iceland ...
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