Global Geothermal Power: Policies, Funding, Wells, Strengths, Opportunities and Barriers Geothermal is moving into a broader investment cycle. In 2026, the story is no longer limited to volcanic power plants in a few classic markets; it now includes enhanced geothermal systems, closed-loop designs, district heating, superhot rock, lithium from brines and industrial heat. Across the United States, Canada, Germany, the United Kingdom, Australia, New Zealand, Japan, Iceland, France and Italy, the sector is being shaped by a simple question: who is de-risking the first wells, and who is ready to finance the next ones? United States: the next-generation testbed The United States has the broadest geothermal innovation ecosystem in this group, with a mature conventional base in the West and a fast-growing next-generation pipeline. The main policy signal in 2026 is the Department of Energy’s US$171.5 million funding opportunity for next-generation geothermal field-scale tests, exploration...
Beyond Electricity: Iceland's Masterclass in People-Centered Geothermal Direct Use By: Robert Buluma When most people hear "geothermal energy," they think of power plants, steam turbines, and electricity generation. But Iceland—the undisputed world leader in geothermal utilization—has spent nearly a century proving that the real magic happens when you stop thinking about megawatts and start thinking about people. While the rest of the world has been fixated on using geothermal resources solely to spin turbines, Iceland has built an entire social and economic fabric around the direct use of geothermal heat. From heating homes and melting street snow to growing tomatoes in the dead of winter and drying fish without fossil fuels, the Icelandic model offers a compelling blueprint for any nation sitting on geothermal potential. The lesson is simple but profound: electricity is just one product. Heat is the real treasure. This article explores how Iceland built resilient, com...