From Yahoo Finance: 2025-04-11 14:14:00

Geothermal stocks are gaining popularity, with Dandelion Energy partnering with a homebuilder to install geothermal systems in 1,500 Colorado homes. The move aims to save homeowners $30 million in energy costs over 20 years and reduce the need for additional grid transmission lines.

Geothermal energy is on the rise, projected to meet 15% of global power demand by 2050. Advancements in drilling technology could unlock more geothermal resources, surpassing $1 trillion in investments by 2035. Government support may decrease costs by 80%, putting geothermal energy on par with solar and wind.

Enhanced geothermal systems (EGS) are progressing, offering baseload electricity access. Federal funding and cross-sector investments are driving technological advancements, with a utility signing the largest geothermal power purchase agreement for carbon-free power. Technology companies are collaborating to accelerate EGS deployment.

Alphabet Inc. (NASDAQ:GOOGL) is leading the geothermal energy charge, partnering with Fervo Energy to enhance geothermal power facilities with AI and machine learning. The tech giant is expanding its Nevada data centers’ geothermal power supply, aiming for 100% renewable energy by 2030.

Alphabet Inc. (NASDAQ:GOOGL) ranks first among the best geothermal stocks to buy according to hedge funds. With strong financials, including $96.47 billion in revenue and $26.5 billion in net income, GOOGL’s investments in AI are seen as game-changers. Considered a top AI stock, GOOGL shows promise for higher returns.

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Read more: Is Alphabet Inc. (GOOGL) Among the Best Geothermal Stocks to Buy According to Hedge Funds?