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Geothermal energy startup spins off of Alphabet's research arm

Paul Sakuma / AP

Google parent Alphabet's research and development division spun off a project Thursday that aims to make geothermal energy an easier lift for consumers.

The product: Geothermal systems require putting pipes in the ground to take advantage of the different temperature above and below ground to heat or cool a building. The company, called Dandelion, says it has developed a "a fast, slender drill" that "could drill just one or two deep holes just a few inches wide, and compared to typical installation rigs, it produced less waste and took up much less space as it operated."

Installing the system will cost $20,000, according to the company, which is setting up financing for customers. It'll be available first to customers in parts of New York state.