What is Geothermal Energy?
Geothermal energy is a renewable energy source, generating heating, cooling and electricity by transferring heat from within the shallow earth to aboveground. Unlike other renewable sources such as solar, it is not dependent upon weather conditions. Geothermal Energy has been quoted as being the most sustainable and environmentally friendly way to heat and cool your home (Energy Information Administration)
Benefits of Renewable Energy
The environmental benefits of transitioning to cleaner technologies are well documented, with many benefits of geothermal energy compared to fossil fuels. Some of these benefits include increased safety with no flames or fumes, lower maintenance costs with a geothermal ground heat pump lasting between 20-25 years, improved air quality and reduction of fossil fuel extraction. According to the US Department of Energy, geothermal systems can reduce energy consumption and carbon dioxide emissions by up to 44%.
Growth of the Geothermal Drilling Industry
With the developing demand and support from Governments for renewable energy, conventional drilling companies either exploring or expanding their geothermal energy system capabilities. The need for cost effective, safe and efficient drilling rigs is critical to the success of the geothermal energy industry,
At CoilRig we understand the importance of these factors along with prioritising the rig size and weight, drilling speed, cost per foot and systems that can be utilised to reduce the overall operational costs and environmental footprint