Decarbonization and electrification are now driving the market increasingly towards geothermal solutions.
The natural geothermal heat from the earth is virtually limitless - often called 'the hear beneath our feet' - yet in many ways, we are just scratching the surface into how to harness this energy giant. The Earth’s core provides heat that warms underground rocks and water. Because the ground maintains a more constant temperature during the summer and winter, it’s easier to transfer heat to and from it. With more sophisticated technology, that energy can be used for district heating.
The economic and environmental benefits of the geothermal industry are significant, and we are already seeing geothermal district energy systems in the United States and abroad that are making a significant impact. In fact, according to the U.S Department of Energy GeoVision report, the economic potential for district heating systems using district-heating systems using existing direct-use geothermal resources combined with Enhanced Geothermal Systems technology advances is more than 17,500 installations nationwide. Geothermal district energy systems can be integrated with other renewable systems to make buildings or campuses more energy efficient.
While the the North American market for deployed district-scale geothermal projects is 10-20 years behind Northern Europe, there is keen interest to develop these systems now as the U.S. transitions to a greener economy led by infrastructure investments.
The economic impact of geothermal energy is also significant. Geothermal energy requires a highly- skilled workforce and supports well-paying labor market such as scientists, engineers, drillers, construction and operations workers.