Google's philanthropic arm, Google.org, yesterday announced plans to invest $10.25m (£5.5m) in research into a new form of geothermal energy technology that advocates claim could provide more than 2,500 times the US annual energy use.
Conventional geothermal power plants work by finding naturally occurring pockets of steam or hot water, limiting their usefulness to areas such as Iceland and New Zealand where such locations are more common. However, so-called Enhanced Geothermal Systems (EGS) seek to replicate that approach more widely by artificially fracturing hot rocks and circulating water through the cracks to create steam, which in turn drives turbines.
According to a recent MIT report cited by Google, just two per cent of the heat found below the US at depths of between three and 10 kilometres could be tapped to provide more than 2,500 times the country's annual energy use.
Google said it was looking to fund further research into the technology, pledging to invest $6.25m (£3.4m) in EGS specialist AltaRock Energy, $4m (£2.2m) in Potter Drilling, a company that develops deep hard-rock drilling technologies, and a little less than $500,000 (£269,000) in a research project at Southern Methodist University Geothermal Lab designed to map North America's potential geothermal resources.
Dan Reicher, director of climate and energy initiatives for Google.org, said that EGS had the potential to emerge as the "killer app" for the renewable energy industry, providing a cost-effective form of power that can be captured almost anywhere on the planet and provide constant and reliable backup to more intermittent forms of energy such as wind and solar.
He added that the company was looking to invest more in the technology as it continues to work towards its stated goal of developing renewable energy technologies that are more cost effective than coal. He said it was also committed to raising its profile among other investors.
"EGS has not received the attention it merits," he said. "That is why we are pressing for expanded support from government and increased investment from the private sector."
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