Commercial Property Executive – Pumped-Up Power: Drilling Into Geothermal
When conditions are right, this largely untapped renewable resource can cut operations costs and reduce a property’s carbon footprint.
By Jeffrey Steele
The rich potential of geothermal power is largely untapped in the U.S. But with new technology-based enhancements propelling development, geothermal generation could grow by a factor of 26 in the next 30 years.
That is among the key findings of a May 2019 analysis by the U.S. Department of Energy, which termed geothermal an “untapped energy giant,” and estimated that a combination of stepped-up development and improved technology could bring capacity to 60 gigawatts by 2050. That would be 10 times the 6-gigawatt gain projected at today’s pace.