National Laboratory of the Rockies (NLR) 2025 U.S. Geothermal Market Report

The 2025 U.S. Geothermal Market Report updates and expands on the 2021 U.S. Geothermal Power Production and District Heating Market Report with the inclusion of geothermal heat pumps (GHPs) for both distributed and centralized heating and cooling applications. The report updates technology and cost trends in the geothermal power generation industry as well as an uptick in market activities, especially those of next-generation geothermal power technologies, including enhanced geothermal systems (EGS) and closed-loop geothermal (CLG). This report also tracks policy and market drivers that have influenced the direction and growth pace of the U.S. geothermal industry over the years, and especially since 2020.