As more organizations come to recognize the power of renewable geothermal energy, these kinds of heating and cooling options are becoming more popular. That’s because these assets allow businesses and private citizens to enhance their return on investments in these systems by a significant amount, generating more interest in these solutions as more find positive results from installation of geothermal options. While adding geothermal opportunities may not be in everyone’s budget range, the investment potential is such that it’s steadily gaining momentum.
Finding new interests
Public interest in these kinds of options is escalating as more regions find the potential to save money and improve quality of life for people in a range of residences. Instead of just putting these tools to work in a single home, regional organizations and government agencies are finding that it’s more cost effective for them to upgrade local grids and other power centers with more modern, geothermal energy sources that facilitate financial benefits for the whole community.
The Connecticut Day reported that this is currently the case for the town of New London, Conn. This town is now investigating options for enhancing the town’s traditional reverse chilling and outdated heating systems with an energy efficient geothermal option. Not only would this help heat and cool local municipal buildings more effectively, these savings could then be passed on to the taxpayers in the form of lower property bills and more jobs in green and geothermal energy industries.
“We are interested in finding alternative energy sources to reduce our carbon footprint and our energy costs,” city public works director Tim Hanser told The Day.
The Department of Energy is even offering organizations interested in pursuing specific kinds of geothermal energy endeavors in the future, making these options easier to secure. As a recent report from Green Car Congress stated, the DOE is now providing businesses interested in pursuing these options with as much as $3 million in support of geothermal exploration that could help expand other markets as well.
The DOE is offering this funding to firms that are interested in combining geothermal extraction options with rare earth metal exploration. These kinds of rocks are necessary for scientific and engineering research and are often difficult to find on their own. This federal initiative could help excavate more of these essential minerals while also bringing more heating and cooling options to the enterprise realm.Space Conditioning