Geothermal Energy refers to extracting the natural heat that radiates from the core of our planet. It is one of the oldest forms of power used by humans with evidence showing its use going back to the Roman empire. This heat source is extracted as hot water or steam, which is then used to spin the turbines that connect to generators, producing clean power. Despite adding roughly 200MW in 2023, the total installed capacity of geothermal energy remains around 15GW globally. The United States, Indonesia, the Philippines, and Turkey are the current leaders in this clean energy source. The United States generates the most geothermal electricity in the world—more than 3.7GW, enough to power about 2.7 million U.S. homes. However, statistically, this is only about 0.4% of total U.S. utility-scale electricity generation.

Geothermal energy has seen a resurgence in recent times, driven in part by the growing popularity of geothermal heat pumps (GHPs). GHPs, also known as ground-source heat pumps, are a type of heating and cooling system that utilizes the Earth's constant underground temperature to regulate indoor comfort. These systems transfer heat between the ground and a building, providing both heating in winter and cooling in summer. While the geothermal sector has seen an average growth rate of 3.5% since 2000, geothermal heating and cooling applications grew faster, by around 9% between 2015 and 2020. GHPs account for about 3% of the global installed renewable heating and cooling capacity.