Do you buy this argument?
Although I don’t know if it is that inexpensive, because you are using electricity to pump the solution through the entire piping inside and outside the house, it does help keep the temperature of your home at a steady temperature year round.
Thousands of oil rigs are idle because the price of energy is way down due to increased production. If geothermal wasn’t competitive with 100 dollar a barrel oil, how big are the subsidies going to have to be at 50?
Thirty years ago POWER ENGINEERING magazine had a long article about geothermal energy. They found a place in New Mexico, started drilling, ordered the turbine generator and got everything set up.
A few years later, I saw, in the same magazine, that turbine generator for sale as there was not enough steam to get it up to speed.
Total waste of money.
I know low temp. geothermal is much more expensive than natural gas. I think high temp geothermal is much more expensive. This is not Iceland - where it can be cheaply done do to the occurrence of volcanoes and there is no natural gas around.
Nope. The cost of drilling the hole is not major expense of geothermal.
Note in the past few decades, we have had several times of stacking up oil rigs in the US. Geothermal is hardly new. Why didn’t it take of during those times?
If you cannot afford to spend money on labor to drill for fossil fuel when it is cheap, why would you spend money on something more expensive, when people are going to choose the less expensive.