Geothermal energy has been used in energy systems for more than a century, although its global impact has been limited. Latin America is exploring unconventional sources to diversify its energy mix, with geothermal and offshore wind as strategic investments. Currently, the geothermal industry is at a crucial juncture, considering the Pacific Ring of Fire and the region's geothermal potential—between 11 GW and 55 GW.
New technologies are opening up access to previously untapped resources, and cost reductions along with innovative financing models are facilitating the expansion of unconventional energy generation in global energy systems. How can these resources be leveraged for energy-intensive industries (mining, green hydrogen) and reduce dependence on fossil fuels? However, scaling up unconventional energy generation requires addressing several challenges, such as project development risks, permitting and licensing processes, environmental concerns, and social acceptance.
