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October 21, 2025 | Geothermal Heat Going Mainstream in Toronto

Danielle Park

Portfolio Manager and President of Venable Park Investment Counsel (www.venablepark.com) Ms Park is a financial analyst, attorney, finance author and regular guest on North American media. She is also the author of the best-selling myth-busting book "Juggling Dynamite: An insider's wisdom on money management, markets and wealth that lasts," and a popular daily financial blog: www.jugglingdynamite.com

Renewable energy systems keep gaining market share, because there are many different solutions for different applications and they keep getting cheaper and cheaper as well as being cleaner, more efficient, safer and smarter than traditional sources. Good news!

Read Inside the deal that’s making geothermal heat go mainstream in Toronto. Here’s a taste:

“We can get a 70 per cent carbon reduction without breaking a sweat. That’s really easy without taking on a lot of risk. Everything in the building is business as usual: The distribution system, the thermostats, the heat pumps, the entire mechanical. We’re just slapping on a bore field.”

Not just reserved for single buildings, geothermal energy has also been used in district energy systems that heat and cool multiple buildings, including U of T’s St. George Campus and a subdivision in Markham. The Enwave district energy system that heats and cools 200 buildings in the downtown core uses similar technology to cool office towers and condos in the summer, but pipes waste heat into the lake rather than the ground.

When pitching geothermal, Weber said developers often balk at the additional infrastructure necessary. But when you consider the effort and complexity that goes into natural gas extraction and distribution, geothermal is simpler, safer and better for the environment, he said.

“If you went back in time 70 years ago and said, ‘I’ve got two options for you to heat your building. One involves drilling two miles deep out west, pumping explosive vapour under pressure across the country, under your city, into your building, into a box and lighting it on fire. Or we’re going to put pipes in the ground and run water through them. Which option would you prefer?”

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October 21st, 2025

Posted In: Juggling Dynamite

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