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I have to admit to never having heard of geothermal technology until one of those Google links popped up above my inbox. And, like Alice in the Lewis Carroll story, I decided to follow this clean energy rabbit into the cyber hole. This is what I found out and, hey, in fact you do need to get under the earth to explore this type of energy.<\/p>\n
Geothermal energy is the heat from the Earth. Resources are varied, ranging from the shallow ground to hot water and hot rock found a few miles beneath the Earth’s surface, and down even deeper to the extremely high temperatures of molten rock called magma” (Check out Renewable Energy World’s page<\/a> on Geothermal energy). And yes, it can be applied domestically.<\/p>\n <\/p>\n Now the economic aspect of geothermal. According to a report in MarketWatch, “geothermal is poised to meet the rapidly growing demand for renewable, zero-carbon power” and “interest in geothermal development has never been higher evidenced by the record 400% increase in land-lease prices garnered earlier this month at auction by the Bureau of Land Management – as everyone searches for the next big play in renewable energy.” In fact, an event called Geothermal Finance & Investment Summit<\/a> wil take place in November, bringing together “leading project developers, investors, lenders, EPC contractors, and other players to share their perspectives on the market for geothermal finance and investment”. <\/p>\n Despite accounting for a small fraction of the renewable energy market, it sounds like it’s got potential. Here is an article that provides a case study<\/a> of how geothermal is being used by a family to warm up and cool down their home.<\/p>\n <\/p>\nRelated Posts:<\/h3>