As energy use rises and the planet warms, you might have dreamed of an energy source that works 24/7, rain or shine, quietly powering homes, industries and even entire cities without the ups and downs of solar or wind – and with little contribution to climate change.
The promise of new engineering techniques for geothermal energy – heat from the Earth itself – has attracted rising levels of investment to this reliable, low-emission power source that can provide continuous electricity almost anywhere on the planet. That includes ways to harness geothermal energy from idle or abandoned oil and gas wells. In the first quarter of 2025, North American geothermal installations attracted US$1.7 billion in public funding – compared with $2 billion for all of 2024, which itself was a significant increase from previous years, according to an industry analysis from consulting firm Wood Mackenzie.
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