Source: Bloomberg

Date Published: 08.16.2025

Link: A Startup Is Tapping Underground Parking Garages for Clean Energy

Enerdrape is a new geothermal panel technology offering cities a novel way to leverage existing underground spaces like parking garages, subway tunnels, and basements into geothermal heating and cooling sinks to cut energy costs and move toward net-zero goals. By affixing panels filled with heat-transferring fluid to underground surfaces, the system captures underground temperatures to provide a building’s year-round heating and cooling needs without the need to drill deep wells like traditional geothermal systems. When paired with heat pumps, Enerdrape can meet 100% of heating, cooling, and hot water needs for mid-sized buildings while delivering energy at just 3–4 cents per kilowatt-hour, far below U.S. gas averages. This makes the technology particularly suitable for older multifamily and affordable housing stock which can be costly to retrofit.