This is a novel approach to geothermal energy. Existing methods, like industry leader Fervo, rely on drilling into hot rock and interacting directly with underground reservoirs. Rodatherm's method is entirely closed loop. It says that its closed-loop, refrigerant-based approach is 50% more efficient than a typical water-based system. However, it may have higher costs with drilling and installation. It just received $38 million in funding to build a pilot project in Utah to begin testing out its tech.
According to Wood Mackenzie, Fervo’s Cape Station project is demonstrating commercial viability at around US $79 per MWh without subsidies. Though it's working toward a target of US$45/MWh by 2035.
Rodatherm Energy wants to make geothermal more efficient, but will it be cheaper?