Let’s Drill for Heat, Too

The world’s first commercial geothermal power plant came online in Devil’s Valley (Larderello), Italy, nearly 70 years before the first wind farm. More than a century later, geothermal energy still represents less than 1% of global electricity generation.

That small share doesn’t tell the full story. Unlike solar or wind, geothermal can produce energy around the clock. Global utilization rates exceed 75%, making it one of the most reliable energy sources available.

The Opportunity Beneath Our Feet

Today, 32 countries operate geothermal projects across nearly 200 active fields, and some nations have already shown what’s possible:

• Kenya generates over 40% of its power from geothermal.
• Iceland meets about 30% of its demand from it.

The past year alone saw 200+ startups entering the sector, and an 85% increase in global investment. The U.S. Department of Energy committed nearly $500 million to next-generation geothermal. And the IEA projects annual investment could reach $140 billion by the 2030s.

Breaking the Myths

Myth #1: Geothermal is new: It’s not. The first industrial use dates back to 1904 in Italy.

Myth #2: It only works in volcanic zones: Not true. New techniques like CO₂ Plume Geothermal (CPG) could make geothermal viable almost anywhere, using CO₂ as both a working and storage fluid.

Myth #3: It’s not ready for scale: Many of the tools and workflows already exist, borrowed from enhanced oil recovery (EOR), CCS, and advanced drilling.

A Resource That Lasts Generations

A well-managed geothermal reservoir can produce energy for 50 to 100 years or more, far longer than most oil wells, which often decline within 5 to 15 years.

The difference lies in what we extract. In oil and gas, once hydrocarbons are gone, they’re gone. Geothermal, on the other hand, taps into heat, which is a renewable resource that can be sustained through reinjection and careful pressure management.

Think of it as managing a rechargeable battery beneath the surface. With the right balance of extraction and reinjection, a geothermal field can power generations.

This is where simulation plays a critical role. With drilling costs often between $5–10 million per well, modeling heat flow, pressure, and reservoir dynamics isn’t optional, it’s essential to make geothermal predictable, sustainable, and profitable.

The Decade of Geothermal

Every energy transition has its defining decade, and the experts predict this one belongs to geothermal.

The fundamentals are aligning:

• Technology is proven and improving rapidly.
• Economics is closing the gap with other renewables.
• Oil and gas expertise in drilling, completions, and reservoir modeling is directly transferable.

Innovation is accelerating across startups, research labs, and universities, from high-temperature cements to real-time downhole sensors and closed-loop systems that can make geothermal viable almost anywhere. Traditional ‘open-loop’ geothermal relies on naturally available underground water or steam, while ‘closed-loop’ designs use sealed pipes that circulate fluid through hot rock, absorbing heat without tapping into natural reservoirs.

This isn’t about replacing hydrocarbons. It’s about expanding what’s possible below the surface. The same subsurface expertise that powered the last century can now help heat the next one.

The Gift That Keeps Giving

Anywhere on Earth, if you drill deep enough, it gets hot. The challenge isn’t whether the resource exists. It’s how to access it safely and cost-effectively.

Geothermal may not dominate headlines, but its potential is unmatched: reliable, renewable, and available almost everywhere.

It truly is the gift that keeps giving - clean energy from the heat beneath our feet.