IEA highlights fracking techniques' role in expanding geothermal energy access globally

The International Energy Agency (IEA) reported that fracking techniques could significantly expand geothermal energy access globally. With an estimated investment of $2.8 trillion, geothermal energy could meet up to 8% of global electricity demand by 2050. Currently, geothermal energy supplies less than 1% of global demand, mainly in a few countries. New drilling technologies could make geothermal energy viable in nearly all countries, potentially reducing costs by 80% by 2035. Big Tech companies are increasingly investing in geothermal projects. Microsoft, Google, and Meta have announced partnerships to develop geothermal energy solutions for their data centers, indicating a growing interest in this renewable energy source.