Geothermal energy provides one of the cleanest and most consistent sources of renewable energy on Earth. In theory, there is enough geothermal energy under the Earth’s crust to sustainably power the entire planet – so why aren’t we using so incredibly little of it The issue is tapping into that radiant heat – only a tiny fraction of the Earth’s thermal energy can be accessed profitably.
Ironically, the hydraulic fracturing methods that fuelled the shale revolution are now touted as a potential avenue for decarbonization in the United States, and the Biden administration has thrown a considerable amount of money behind pilot geothermal research and development projects such as the Utah Forge project. But these technologies are only valuable insofar as they are cost-effective, and so far that’s not the case.