Using the relatively constant temperature that exists just below the Earth’s surface is a renewable and environmentally friendly resource for heating and cooling that’s gaining popularity around the World. And as the cost of installing geothermal heating and cooling systems continues to fall, this trend is set to continue and become even cheaper and more efficient.
In Australia, shares in geothermal companies closed up to 25% higher on July 11. The hike followed an announcement by the federal government there that a new carbon tax is to be introduced to help fund $13.2 billion (Aus) in investment of renewable energy sources.
Closer to home, In Aspen, Colorado, city officials are planning to drill a well in the hopes of tapping into geothermal resources that are believed to be below the ground there. With local projects aiming to reduce greenhouse-gas emissions by up to 80%, Aspen officials see geothermal energy as a step in the right direction. The goal is to use the geothermal energy to heat and cool buildings in the Aspen area.
Although geothermal energy is not generally recognized as being suitable for anything other than small applications in homes and offices, this isn’t actually the case. Most media attention and marketing from geothermal companies is aimed at the consumer. But drilling deeper into the earth’s surface can offer heating sources that will power much larger applications, such as turbines in power plants. This is because the deeper into the earth’s crust you drill, the warmer the temperatures you find, especially in areas with volcanic activity.
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