Wednesday, December 13, 2017

Climate Change: Bill Gates' Clean-Energy Investment Fund Could Boost Geothermal Energy

4 signs of progress on climate change (Gates Notes)

By Bill Gates, Microsoft, Bill & Melinda Gates Foundation

I’m in Paris for the big meeting on climate change hosted by President Macron. Leaders from around the world are here to take stock of the progress the world is making on this urgent challenge.

This is a pivotal moment. We need to adapt to the climate change that is already affecting the planet, and develop new tools that will keep the problem from getting worse. Innovation is key to doing both. Scientific advances in crop science, for example, will help farmers deal with changing weather patterns. And energy research will make it possible to power modern life—the way we live, work, travel, and make things—without adding more greenhouse gases to the atmosphere.

The good news is that there’s a lot of progress to report on both fronts. Here’s an overview of the developments I’ll be highlighting in Paris.

Our $1 billion clean-energy investment fund is up and running. Breakthrough Energy Ventures has hired a staff of accomplished investors, company builders, scientists, and technologists. They have identified five areas that are especially promising but also underfunded. This is where we will focus our investments:

Geothermal power. There is a phenomenal amount of energy stored up as heat under the Earth’s surface—many times more than we could get from all the known coal and oil reserves in the world. Tapping this source involves pumping steam or hot water from underground to drive turbines.

Read More.........