The Energy Mix
Summary
Canada has developed, to date, less than six megawatts of geothermal power capacity, roughly enough to power a small town, writes the RBC Climate Action Institute. Compare this to Europe. The European Geothermal Energy Council Market Report 2024 points out that Europe has nearly 150 geothermal electricity plants and over 400 geothermal district heating and cooling systems. Plans for another 500 district energy projects are in development.
As new geothermal technologies mature, Canada’s expertise with drilling and its vast geographic advantages put us squarely in a position to lead a new global industry, while providing energy to Canadians more cheaply than almost any other source available.
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