Residential geothermal for home heating and cooling could make a ton of sense, but more likely based on the scale of a residential natural gas network.
Drilling a hole per home is super expensive. Replacing gas pipes with moderate thermal pipes would be about the same cost as gas infrastructure but allow the massive efficiency gains of larger scale. Heat pumps operating on pumped water through these sorts of pipes doesn't need very high or low delivered temperatures to be effective, as long as it's somewhat above the -20C of the extremes of winter.
Thermal storage quantity scales roughly with volume (x^3) and storage costs roughly scale with surface area (x^2). Though I'm not sure if storage plays much into the gas -> thermal plans that have been explored.
They currently are efficient but still expensive because of a law that the pricing has to be similar to heating with would have been.
The city heating network operator is a monopoly, that is why the price is capped.
Even though city heating networks utilize 'waste heat', the capital cost of the network is significant. The price cap and the capital costs (especially now with higher interest rates) led to many proposed projects being cancelled in recent years.
If you live in a place like Minnesota, then the ground-source pump needs a water table. Or you'll just be freezing the water in the ground. And you'll likely still be better off with an air-source pump.
(note, the 6 to 8 feet is for a closed loop, horizontal system)
It looks like this: one day in winter, the temperature of the coolant in the loop outlet falls below 0C. And after that, it starts dropping down by about 1C a day, until the pump becomes a resistive heater. If you sized your loop correctly, it hopefully happens towards the end of the heating season.
I don't have a personal experience with vertical loops.
No, you're completely misunderstanding the meaning of that number. 50TW is not the power generated in the earth's center, and definitely not the "available geothermal energy".
It's the heat flow that reaches the surface. The newly generated heat (from radioactive decay) is a fraction of that (estimates vary between 20% and 80%). The rest is a loss of the primordial heat that has been stored in those billions of cubic kilometers of magma for billions of years. And this loss has been happening for billions of years and there's plenty left.
So there are no physical reasons why we could not extract 500TW or 5000TW from geothermal energy. We'd be depleting the priomordial heat much faster than before, but it would still easily last for millions of years.
Of course, whether the engineering to do it on that scale would be feasible, let alone cost-effective, is a different question.
Of course they all are in some sense…
That's the problem, isn't it?
Fervo is actually drilling and producing energy today, and scaling the technology, using existing technologies. If Quaise is successful, it will only enhance what Fervo is already accomplishing, but we don't need the huge technical advance of Quaise to get a massive amount of geothermal energy on the grid.
The Volts podcast has been following Fervo over the past few years, and they have met and exceeded all their milestones so far. (Unlike, say, big fission or fusion startups)
https://www.volts.wtf/p/catching-up-with-enhanced-geothermal
In the Earth itself there is some enormous amount, far far larger, with more energy being generated as well from radioactive decay
So it's not like some sort of oil situation where in 250 years we'll be at Peak Mantle, i.e. "The planet has spent millions of years generating this heat and we're draining it at an unsustainable rate!"
Global total energy (not just electricity) consumption is currently 180,000TWh/year, or about 20TW. So we would have to capture nearly half of all available geothermal energy to replace current energy usage.
Meanwhile, Solar PV covering (a favorably located) 1% of the earth's surface area would generate 20TW. (This is based on the estimate of 400kwh/year for a 1m^2 panel in a sunny area from https://en.wikipedia.org/wiki/Solar-cell_efficiency.
I don't expect geothermal to do well in this showdown.