PanTerra Energy is taking a cue from the very successful solar leasing model and applying it to geothermal energy.
The Colorado company is the first private company that has registered as geothermal utility and plans to own, build and finance the geothermal systems it installs for commercial clients.
As in a solar lease, geothermal customers will be able to avoid the expensive upfront costs to install the system and will instead sign a long term contract to pay for the electricity it produces at a fixed rate.
Registering as a utility with the Colorado Public Utilities Commission allows PanTerra to offer heating and cooling services to clients.
Geothermal experts usually install the system, but contract out the drilling required for the loop field. Often systems are installed by traditional HVAC contractors who also contract out the design of the system. PanTerra handles all aspects of the installation, lowering the overall project cost and thus offering lowering electricity prices to customers.