A startup is tapping underground parking garages for clean energy

The heat held in New York‘s underground labyrinth of infrastructure, from hundreds of miles of subway tunnels to parking garages and malls, is a clean energy gold mine. Now, a Swiss startup wants to tap it to heat and cool buildings, all without drilling a single borehole.

Globally, heating accounts for nearly half of all energy consumption. That could make decarbonizing it a half-trillion-dollar market, according to a BloombergNEF analysis. Using the Earth’s heat offers one route to cut emissions, but traditional geothermal projects can be costly…