NAICS Code 541720-07 - Geothermal Exploration

Marketing Level - NAICS 8-Digit

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NAICS Code 541720-07 Description (8-Digit)

Geothermal exploration is a specialized industry that involves the search for and evaluation of geothermal resources. Geothermal energy is derived from the heat of the earth's core and can be harnessed to generate electricity or provide heating and cooling for buildings. Geothermal exploration is a crucial step in the development of geothermal energy projects, as it involves identifying potential sites for geothermal power plants and assessing the feasibility of extracting geothermal energy from those sites.

Parent Code - Official US Census

Official 6‑digit NAICS codes serve as the parent classification used for government registrations and documentation. The marketing-level 8‑digit codes act as child extensions of these official classifications, providing refined segmentation for more precise targeting and detailed niche insights. Related industries are listed under the parent code, offering a broader context of the industry environment. For further details on the official classification for this industry, please visit the U.S. Census Bureau NAICS Code 541720 page

Tools

Tools commonly used in the Geothermal Exploration industry for day-to-day tasks and operations.

  • Magnetotelluric (MT) surveys
  • Gravity surveys
  • Seismic surveys
  • Geochemical surveys
  • Remote sensing
  • Well logging
  • Mud logging
  • Core drilling
  • Downhole geophysical logging
  • Geochemical sampling
  • Temperature gradient drilling
  • Pressure transient testing
  • Flow testing
  • Reservoir modeling software
  • Geographic Information Systems (GIS)
  • Global Positioning System (GPS)
  • Computer-aided design (CAD) software
  • 3D modeling software
  • Data analysis software

Industry Examples of Geothermal Exploration

Common products and services typical of NAICS Code 541720-07, illustrating the main business activities and contributions to the market.

  • Geothermal power plant development
  • Geothermal heating and cooling systems
  • Geothermal district heating systems
  • Geothermal direct use applications
  • Geothermal research and development
  • Geothermal resource assessment
  • Geothermal reservoir engineering
  • Geothermal drilling services
  • Geothermal consulting services
  • Geothermal project management

History

A concise historical narrative of NAICS Code 541720-07 covering global milestones and recent developments within the United States.

  • Geothermal exploration has been around for centuries, with the first recorded use of geothermal energy dating back to ancient Rome, where hot springs were used for bathing and heating. In the 20th century, the industry saw significant growth, with the first geothermal power plant being built in Italy in 1904. The United States saw its first geothermal power plant in 1960, and since then, the industry has continued to grow, with advancements in technology and increased interest in renewable energy sources. In recent years, the industry has seen notable advancements in the development of enhanced geothermal systems (EGS), which involve drilling deeper into the earth's crust to access geothermal energy in areas where traditional geothermal resources are not available. In the United States, the geothermal exploration industry has seen significant growth in recent years, with the country being the world's largest producer of geothermal energy. The industry has benefited from government incentives and increased investment in renewable energy sources. In 2019, the United States had a total installed geothermal capacity of 3.7 GW, with California being the largest producer of geothermal energy in the country. The industry has also seen advancements in the development of binary cycle power plants, which are more efficient and environmentally friendly than traditional geothermal power plants. Overall, the geothermal exploration industry in the United States has a promising future, with continued growth expected in the coming years.