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Greetings,
If you drill a well, you can use the water with a heat pump to both heat and cool your house. Example: 3600sq ft house in Nova Scotia (well insulated, but not "super insulated") cost just $68 to heat for the whole winter!
You can realize similar savings if you need to use it for A/C as well. The 54-55F ground and ground water are the perfect heat source and heat sink. The heat pump only has to do a little bit of work, because of this.
MIT has developed a way of "drilling" very deep holes (7-8 miles!) so the Earth's heat can be used to make steam, which can be used to generate electricity. So, you can have Iceland's (or New Zealand's, or Yosemite's) type of geothermal power (just about) anywhere on Earth.
Both of these are "true" geothermal energy.
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