Abstract: A method and system for extracting geothermal heat from a well is provided, wherein the well casing has positioned therein an inner pipe nested within an outer pipe. The space between the well casing and the outer pipe may be filled with an insulating medium. A liquid heat conducting material flows into and down through the inner pipe. The inner pipe may be fitted with a one-way valve so that the liquid heat conducting material does not reverse direction and flow upwards towards the surface. As the liquid heat conducting material approaches the bottom of the inner pipe, it enters into a heat exchanger, absorbs heat and transforms to its gaseous state. The gas rises upward through the space between the outer pipe and the inner pipe and into the electricity generating component.