MANY DEVELOPERS ARE NOW SWITCHING TO GEOTHERMAL – WHY IS THIS HAPPENING?
Just 6 years ago, the idea of constructing a building with a Geothermal heating and cooling system was a far-fetched one. Developers have relied on heating boilers for decades – it’s dependable and cost-effective – why make the switch to anything else?
But over the past 6 months, experts have noticed a shift in interest in Geothermal. More and more developers are making use of this technology to heat and cool their buildings – but why?
Some will point to policy change. For instance, the implementation of the Toronto Green Standard V4 in May 2022 will mean that developers will need to look beyond boilers to meet these standards. And while that is true, we have seen another reason for this surge.
Policy change was the catalyst that forced developers to take a closer look at Geothermal. Now, some developers want to use Geothermal. They have come to recognize the many benefits Geothermal provides – not just for meeting SPC requirements, but it also for resulting in a better and more attractive product for their customers.
More Usable and Saleable Space
No one summed it up better than Alex Speigel, Partner at Windmill Developments, in an episode of the Sustainable Westchester podcast. “What we really love about using a Geothermal system is that, in addition to reducing our carbon footprint, we don’t have to provide all the typical equipment that is noisy and takes up a lot of space,” he says. “The only things we have are pipes underground and a small mechanical room. So, we don’t have a big cooling tower on the roof – which means our roof can be green, it can be a terrace, our roof can be an amenity space for the building,” he continues. “So, we’ve basically gained back valuable real estate that is an amenity for the whole building.”
Not only does Geothermal give developers a ton of space that could be used for amenities or storage, a well-maintained borefield will last at least 4 times as long as a well-maintained boiler. Not to mention that a building using Geothermal is insulated from fluctuations in the price of natural gas and escalating carbon taxes.
With Diverso Energy, developers don’t have to worry about the risks of installing a Geothermal system. With over 200 projects and years of building, operating, and maintaining Geothermal systems day in and day out, the team at Diverso Energy delivers a level of precision and performance yet to be achieved by anyone else in this industry. Because it’s not just about doing Geothermal, but also about who’s doing it with you.
Yes, developers were once wary of Geothermal. But just as it was with the case of the airplane, it’s only a matter of time before every developer realizes the numerous advantages of Geothermal and it becomes a standard technology in new buildings.