It sounds like the goal is to make geothermal heat pumps affordable by making the drilling for them affordable.
Heating and cooling represent about a third of all energy use in the U.S., and in data centers, the figure can be as high as 40%. Geothermal can slash HVAC energy use while also saving grid operators up to $4 billion annually. To help stabilize its creaking electrical grid, the U.S. needs to drill 6 million feet of geothermal borehole daily through 2050, according to the Oak Ridge National Laboratory.
There are two main flavors of geothermal: Enhanced geothermal drills down thousands or tens of thousands of feet. Companies like Fervo and Quaise that are drilling that deep are tapping very hot temperatures — usually in the hundreds of degrees — to generate electricity. The other, shallow geothermal, which is what Dig is focused on, is usually limited to hundreds of feet. At those depths, the ground maintains a consistent temperature year-round, which is perfect for heating and cooling residential and commercial buildings.
Installing the ground loop, as the underground piping is called, represents around 30% of the total cost of a ground-source heat pump and is one of the main reasons the technology remains more expensive than conventional heating and air-conditioning systems. Tackling those costs was high on Dig’s list.