Next-generation geothermal power: A commercial readiness assessment (Kenneth Sercy, Jia-Shen Tsai, 3/26/26, Niskanen Center)
With a very large potential market, attractive round-the-clock power generation profile, increased cost competitiveness, and favorable supply chain conditions, NGG is positioned for accelerated growth. However, it faces serious headwinds, including limited large-scale project experience; a lack of capital for project development; broad power-system infrastructure limitations; and challenging regulatory, permitting, and policy environments. Nevertheless, policy reforms could mitigate many of these key risks, creating positive momentum for building more projects and delivering the benefits that come from learning effects.