As nations and the private sector explore new ways to expand renewable energy, geothermal energy is gaining attention for its potential to support the green transition. Once overlooked due to technological limitations, geothermal energy is now seen by many scientific institutions as a viable and abundant source of clean power.
Geothermal energy is the heat stored within the Earth. There are various methods for harnessing this energy, including direct use systems, district heating systems, geothermal power plants, and geothermal heat pumps. These technologies tap into the Earth’s natural heat, either from near the surface or by drilling deep into the Earth’s crust. Geothermal energy can be used for heating, cooling, and even generating electricity.
In the U.S., geothermal energy has garnered increasing support from both major political parties. The industry has steadily grown, especially with the backing of the Biden administration’s Inflation Reduction Act (IRA). The Department of Energy’s Geothermal Technologies Office (GTO) has made significant strides in developing the necessary technologies and reducing costs for geothermal energy.
Chris Wright, appointed by President Donald Trump as U.S. Energy Secretary, has also expressed support for geothermal energy. Wright, founder of oilfield services company Liberty Energy, invested in geothermal start-up Fervo Energy in 2022. He pledged to cut financial ties with the company after assuming office to avoid conflicts of interest but remained a strong advocate for geothermal energy. “It’s a tremendous potential energy source,” Wright said, adding, “I’m still passionate about it… I’m going to be a champion for it.”
Meanwhile, in the U.K., a new geothermal energy storage project was announced this month, funded by Ofgem’s Strategic Innovation Fund. The project, which builds on research at the University of Leeds, focuses on how subsurface heat storage could provide sustainable electricity. The Geogrid project at Leeds is a collaboration with several partners, including Northern Powergrid, LCP Delta, E.ON Next, and Star Refrigeration.
Several U.K. universities are also ramping up geothermal research. Heriot-Watt University in Scotland has teamed up with Taiwan’s National Central University to share equipment, co-supervise PhD students, and collaborate on joint projects. These efforts aim to advance geothermal technology and increase understanding of its potential. The U.K. government is also investigating geothermal energy in its “Future of the Subsurface” report published in October.
In Finland, a groundbreaking discovery last year revealed a geothermal resource that could potentially provide energy for 20 million years. Finland’s first geothermal heating plant began operations in January in Vantaa, generating 2.6 gigawatts (GW) of clean power annually, enough to heat approximately 130 homes.
France is also exploring the potential of geothermal energy. In 2023, the Ministry of Energy Transition outlined a development plan with 27 key actions aimed at expanding the sector. The plan focuses on using geothermal energy to provide renewable heating and cooling for buildings across the country.
In Asia, countries like Indonesia and the Philippines are looking to boost their geothermal energy use to reduce dependence on fossil fuels. Both nations have vast geothermal resources due to their location on the Pacific Ring of Fire, but they face challenges such as funding issues, regulatory hurdles, and local opposition. Despite these obstacles, both countries are key players in global geothermal energy production.
According to the International Energy Agency, geothermal production in Southeast Asia is projected to grow significantly, with output expected to reach 276 million megawatt-hours by 2050. Indonesia and the Philippines are already the second and third-largest geothermal energy consumers globally, after the U.S. However, both countries are underutilizing their geothermal potential. Indonesia currently harnesses only 6% of its geothermal reserves, while the Philippines uses 8%, which accounts for 14.6% of the nation’s energy supply.
Both countries are now aiming to expand their geothermal sectors. Indonesia plans to increase its geothermal output by at least 8% by the end of the decade. The Philippines, on the other hand, aims to add nearly 1.5 gigawatts (GW) to its geothermal capacity, nearly doubling its current production.
As nations around the world invest in and explore geothermal energy, the sector is poised for significant growth in the coming years. With increasing technological advancements and political backing, geothermal energy could become a central player in the global transition to clean, renewable power.
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