How to Invest in Geothermal stocks
Last updated July 2026
Short answer
You can invest in Geothermal stocks by buying the individual stocks that fit the thesis (BKR, CVX, ORA), holding an ETF proxy, or building a focused Geothermal stocks basket. Geothermal generates electricity from heat beneath the earth's surface, and unlike solar and wind it runs continuously, which makes it valuable as baseload clean power. The listed universe is very small: a handful of dedicated developers plus the oilfield services companies whose drilling expertise transfers directly to geothermal wells. That overlap is the theme's most interesting feature and its main source of dilution.
What gets a stock into the Geothermal stocks theme?
Revenue from developing or operating geothermal power generation, or from providing the drilling and subsurface services geothermal projects depend on.
What stocks are in the Geothermal stocks theme?
Every public name that fits the Geothermal stocks thesis, with the rationale for inclusion. Click any ticker for the full stock guide. The basket above starts equal-weighted; you set your own target weights inside Walnut.
Baker Hughes operates two segments.
Integrated oil major with low-cost production, a strong balance sheet, and a high dividend tied to commodity prices.
Scaled pure-play geothermal and storage; firm, around-the-clock clean baseload power with contracted cash flows.
SLB (formerly Schlumberger) is a multinational oilfield services and energy technology company founded in France in 1926 and now incorporated in Curacao, with principal offices in
For the full roundup of the individual names in this theme, grouped by the role each one plays, read best geothermal stocks.
The bottom line on Geothermal stocks
Geothermal stocks is best expressed as a focused basket of the names that actually fit the thesis rather than a diluted sector ETF. Core names include BKR, CVX, ORA. In a portfolio it works as a satellite tilt you size deliberately, not a core holding.
FAQ
How do I invest in geothermal stocks?
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The pure-play listed universe is tiny, so exposure usually mixes dedicated geothermal operators with oilfield services companies whose drilling capability applies directly. That means most of the basket is diluted by unrelated business. Walnut is informational and not an investment adviser.
Why is geothermal different from solar and wind?
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It generates continuously rather than intermittently. Solar produces when the sun shines and wind when it blows, so both need storage or backup. Geothermal runs around the clock, which makes it usable as baseload power. That reliability is why it attracts interest despite being far smaller than the other renewables.
Why are oilfield services companies part of this theme?
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Because geothermal is fundamentally a drilling business. Reaching hot rock requires the same deep-drilling expertise, equipment and subsurface modelling that oil and gas companies have spent decades developing. Several are applying it directly to geothermal projects, which makes them a genuine but heavily diluted way to hold the theme.
What is enhanced geothermal?
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Conventional geothermal needs a rare combination of heat, water and permeable rock, which limits it to specific geographies. Enhanced geothermal systems create the permeability artificially, which in principle makes the resource available almost anywhere. If it works at commercial cost it would expand the addressable market enormously. It is still early.
What are the risks of geothermal stocks?
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Drilling risk, since a well can fail to find commercial resource after substantial spending. High upfront capital and long development timelines. A very small listed universe, which means limited liquidity and concentration. Competition from solar and wind paired with storage, which keeps getting cheaper. And induced seismicity concerns around enhanced systems.
Does Walnut recommend which geothermal stocks to buy?
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No. Walnut is informational and not a registered investment adviser, and this is a small and illiquid corner of the market. It lets you build a basket from constituents you choose, size it deliberately, and approve every order yourself at your own broker.
Build the Geothermal stocks basket in Walnut
Walnut's AI assistant takes the thesis above, proposes 5 to 6 constituents with target weights, and lets you fund the basket through your existing broker. You approve every order; we never trade on your behalf.
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Walnut is informational, not investment advice. Theme membership is descriptive, not prescriptive; nothing on this page should be read as a recommendation. Always verify current financials and your own circumstances before investing.