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ARTICLE · 02 MAY 2025

Does Mastercard's Plan For Geothermal Heating And Cooling Herald A Geothermal Revolution?

Foley Hoag LLP
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Amidst continued optimism from the Trump Administration on geothermal energy as compared to other renewable energy sources, some private companies are looking to achieve...

United StatesEnergy and Natural Resources
Daniel T. Carlston
Daniel T. Carlston
Seth Jaffe
Seth Jaffe
Sarah Main
Sarah Main
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Amidst continued optimism from the Trump Administration on geothermal energy as compared to other renewable energy sources, some private companies are looking to achieve their stated clean energy goals by turning to geothermal projects, including for large-scale heating and cooling.

In an Earth Day statement, Mastercard announced its plans to implement a geothermal heating and cooling system at its headquarters in Purchase, New York, alongside plans to construct a new solar array at its O'Fallon, Missouri tech hub. The company's investment in geothermal energy is of particular interest given the changing regulatory landscape around geothermal well drilling in New York.

Mastercard's headquarters, where natural gas is responsible for more than half of the company's direct combustion of fossil fuels, will be replacing its natural gas-powered heating and cooling systems by drilling 160 boreholes, each 600 feet deep, to support a geothermal system powered by renewable

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