Fracking technology helps geothermal industry grow

New York Times : In 2011, less than 1% of the world’s total electricity came from geothermal plants. In 2013, geothermal energy production grew to nearly 5% and is poised to grow further, especially in Indonesia, Africa, and parts of Central and South America. Currently the largest producer of geothermal energy is the US, followed by the Philippines, Indonesia, and Mexico. The growth of geothermal energy has been slow because of high upfront costs and the difficulty in identifying where to drill. Whereas most of a plant’s cost (50–60%) is incurred in drilling the wells, about 10–30% of the test wells are not usable. The recent growth of the industry has been aided by the spread of hydraulic fracturing. The development of fracking as a viable method for oil and gas extraction has advanced drilling technology that can also be applied to geothermal wells.