Techniques pioneered in fracking for oil and gas have unlocked a potential source of renewable energy from the earth’s crust that could rival the cost of producing wind and solar energy within a decade, the International Energy Agency said on Friday.
The ability to drill more than 3km into the earth, and to drill horizontally, could make geothermal energy — now only practical in a few regions around the world — available to “nearly all countries”, the IEA said in a new report.
Geothermal energy presently only meets less than 1 per cent of global demand.
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