Project InnerSpace publishes Future of Geothermal in New Mexico report
"The Future of Geothermal in New Mexico" report by Project InnerSpace
Carlo Cariaga
13 Jun 2025
Project InnerSpace has published a report on the future of geothermal in New Mexico, highlighting a strong oil and gas sector and supportive policy environment.
Project InnerSpace, in collaboration with New Mexico Tech and the New Mexico Bureau of Geology and Mineral Resources, has published “The Future of Geothermal in New Mexico” report, highlighting the state’s potential to produce up to 163 GW of geothermal power.
Click here to read the full “The Future of Geothermal in New Mexico” document.
New Mexico stands out as a state that combines favorable geology for geothermal, oil and gas expertise, and political will. Almost all of the western half of the state has enough subsurface heat potential for power generation. Because of its vast hydrothermal resources, New Mexico is one of just seven states in the United States that has an active geothermal plant—the Lightning Dock plant in Hidalgo County, which was recently repowered by Zanskar to full capacity.
As the second largest producer of oil and gas in the nation, New Mexico’s workforce is primed with the technical expertise and transferable skills that could easily be harnessed to build next generation geothermal infrastructure. Adopting a 5 GW goal would create 2,000 construction jobs, 750 indirect jobs, and 125 permanent operations and maintenance jobs.
New Mexico has already adopted strong policies to govern its geothermal resources, including passing legislation to increase the money available for the Geothermal Projects Development Fund from $5 million to $15 million, and authorizing the conversion of oil and gas wells into energy storage or geothermal wells.
The report identifies 15 additional policies that, if enacted, would spur the development of more geothermal resources by establishing additional legal and regulatory certainty for the geothermal industry, creating conditions to accelerate geothermal production, expanding incentives, encouraging the development of geothermal heating and cooling, and preparing the workforce for new geothermal jobs.
“New Mexico is already leading the nation in energy innovation, and we’re just getting started,” said New Mexico Gov. Michelle Lujan Grisham. “Geothermal is the next frontier, and Project InnerSpace’s report confirms we have the renewable resources and momentum to lead. We’re committed to working with industry, environmental, and tribal partners to bring this technology to scale and deliver long-term energy solutions for our communities.”
“New Mexico is on the cusp of a geothermal boom that would deliver economic benefits while ensuring a sufficient, affordable and abundant power supply amid growing demand,” added Jamie Beard, Executive Director of Project InnerSpace. “With continued leadership on a few targeted policies, New Mexico could leverage its massive geothermal resources and lead the nation as a producer of geothermal power and heat.”
Project InnerSpace had previously published “The Future of Geothermal” reports for two other US states, Texas and Pennsylvania. The nonprofit organization is also active in geothermal initiatives in the UK and Indonesia, and continues to expand the scope of its GeoMap online geothermal prospecting tool.
Source: Project InnerSpace
