North America

• Region: North America
• Topics: Geothermal
• Date: 9th February 2026

The Arizona Governor’s Office of Resiliency has announced a US$1mn investment in the Arizona Geological Survey (AZGS) to enhance knowledge of the state’s geothermal potential.

The new funding is part of a range of actions by Arizona’s Governor Katie Hobbs to accelerate the state’s geothermal development and expand its economic and energy future as electricity demand grows.

“Arizona is at a crucial crossroads in its energy story, and we have the key resources needed to be a leader in geothermal energy production,” said Hobbs.

“I am taking the steps to make that happen by investing in the Arizona Geological Survey, proposing funding for new geothermal research in my executive budget, and convening a geothermal working group.”

It represents the next step in Hobbs’ focus on building the future of energy in Arizona.

Earlier this month, Hobbs released her FY2027 executive budget proposal, which includes US$1.5mn for geothermal research to expand knowledge of Arizona’s subsurface.

Additionally, a geothermal working group was also assembled within her Arizona Energy Promise Taskforce to catalyse the deployment of next-generation geothermal technologies across Arizona.

“Arizona is ready to leverage its status as a global leader in technology industries and a strong foundation in subsurface industries like mining,” said Hobbs.

“Geothermal will be a future-defining industry for Arizona, lowering energy costs and strengthening our grid. We are open for business.”

AZGS brings more than 45 years of experience in geothermal research, with expertise in subsurface characterisation and statewide data development, including leading the US Department of Energy’s (DOE) US$23mn project to create a National Geothermal Data System, according to Brian F. Gootee, Senior Research Geologist and Energy Geology Group Chief at AZGS.

“With this rich legacy of geothermal work, AZGS remains committed to advancing Arizona’s geothermal development through rigorous science and close collaboration with the Governor’s Office.”

Arizona also recently joined the DOE and the National Association of State Energy Officials’ Geothermal Power Accelerator, a new collaboration among 13 states to rapidly expand geothermal power development in partnership with the private sector.

According to the DOE and the National Laboratory of the Rockies, next-generation geothermal energy potential in the USA is at least 26.5 terawatts, with a large concentration of resources in the Mountain West.

A 2025 Princeton University study assesses that geothermal energy could meet 20% of US electricity demand by 2050.Across various scenarios modelled by Princeton, the deployment of enhanced geothermal within the energy mix reduced wholesale electricity costs by 22–55%.

“An all-of-the-above approach to electric generation is essential to maintaining grid reliability while keeping rates just and reasonable for Arizona’s families and businesses,” said Arizona Corporation Commission Chair Nick Myers.

“Technological advancements in geothermal energy show significant promise in Arizona and could become a valuable addition to our energy mix. If these technologies prove to be cost-effective, ratepayers stand to benefit from Arizona’s untapped geothermal resources.”

Arizona utilities estimate significant growing energy needs over the next 15 years, with some utilities projecting a 40% increase in peak demand.

Electricity demand in Arizona is rising fast due to several factors, including the state’s expanding population as well as economic growth.

• Region: North America
• Topics: Geothermal
• Date: 6th February 2026

Maritime Geothermal Ltd., a long-established Canadian provider of heating solutions with more than four decades of experience, has secured a US$1.64 million investment from the Atlantic Canada Opportunities Agency (ACOA).

• Region: North America
• Topics: Geothermal
• Date: 30th January 2026

Vallourec and XGS Energy have announced a strategic supply chain partnership to support XGS’s 3 GW pipeline of commercial geothermal projects across the western United States

• Region: North America
• Topics: Geothermal
• Date: 30th January 2026

The US geothermal developer Controlled Thermal Resources has announced its subsidiary, American Data Power, will deliver a utility-scale energy complex to support data centres, advanced manufacturing and critical digital infrastructure in the US.

• Region: North America
• Topics: Geothermal
• Date: 28th January 2026

ABB has entered into an agreement with Fervo Energy, a Texas-based leader in enhanced geothermal systems, to supply advanced motor control solutions for the Cape Station geothermal project in Southwest Utah, USA.

• Region: North America
• Topics: Geothermal
• Date: 23rd January 2026

Sage Geosystems has closed a Series B funding round worth over US$97million to advance its geothermal power generation and energy storage solutions.

• Region: NA
• Topics: Geothermal
• Date: 22nd January 2026

Zanskar, the Salt Lake City–based geothermal exploration company redefining clean energy discovery through artificial intelligence, has raised US$115million in Series C funding, marking a major milestone following a record-breaking year of geothermal discoveries.

• Region: North America
• Topics: Geothermal
• Date: 14th January 2026

Ormat Technologies has signed a 20-year Power Purchase Agreement (PPA) with AI provider Switch for the provision of clean renewable energy to serve the data centre industry.

• Region: North America
• Topics: Geothermal
• Date: 12th January 2026

Nasdaq-listed Constellation Energy Corporation has completed the acquisition of Calpine Corporation from Energy Capital Partners (ECP), creating the largest producer of electricity in the US and taking on a portfolio of geothermal assets.

• Region: North America
• Topics: Geothermal
• Date: 9th January 2026

The National Association of State Energy Officials (NASEO) has unveiled the NASEO Geothermal Power Accelerator, a new multi-state initiative aimed at fast-tracking geothermal power development across the United States through close collaboration with the private sector

• Date: 8th January 2026

Last month, Fervo Energy closed its oversubscribed US$462mn Series E funding round, led by new investor B Capital, reflecting strong market confidence in the company’s opportunity to make geothermal energy a cornerstone of the 24/7 power future.

• Date: 7th January 2026

The Bureau of Land Management has accepted winning bids on 17 geothermal parcels in Idaho, totalling approximately 68,025 acres for just over US$1.3mn.