IEA highlights fracking's potential to boost geothermal energy production

The International Energy Agency (IEA) reported that U.S. fracking techniques could enhance geothermal energy production. Advances in horizontal drilling and hydraulic fracturing may lower costs and make geothermal energy more competitive with other clean energy sources. Currently, geothermal energy accounts for less than 1% of global energy demand, primarily in countries with accessible resources. The IEA suggests that increased involvement from the oil and gas industry could help geothermal energy meet up to 15% of global electricity demand by 2050. The IEA estimates that with proper support, geothermal costs could drop by 80% by 2035, making it one of the cheapest sources of low-emission electricity. This would position geothermal energy competitively alongside hydro, nuclear, and renewable sources like solar and wind.