Using superhot rocks buried deep below the surface to generate steam for power generation could be far more efficient than similar technology already in use, a U.S.-based climate task force found.

A new report from the non-profit Clean Air Task Force finds that "superhot rock energy" could be on the cusp of a breakthrough that would see it put to commercial use as early as the 2030s.

"With more ambitious geothermal energy funding and public-private partnerships to spur innovation, it could be cost-competitive with most zero-carbon technologies, transforming global energy systems by providing clean, firm, cost-competitive renewable energy while requiring significantly less land than other sources," the report read.

Using this type of system would see water injected at depths sufficient enough to find rock temperatures greater than 750 degrees Fahrenheit. The steam that would come from that would be pumped back to the surface to drive a generator.

The type of geothermal energy already in use relies on finding temperatures close to the surface hot enough to generate steam. Finding rocks hot enough would require drilling as deep as 12 miles below the surface.

Research is underway into the technology. A test program in Iceland is churning out at least five times as much energy as conventional geothermal power and researchers at the Clean Air Task Force estimate the cost for a rock-based system is already competitive with natural gas.

Bruce Hill, a geoscientist with the Clean Air Task Force and the author of the report, told CNBC that a lot more funding is needed to bring this type of power system to the grid.

"Superhot rock geothermal isn't even in the decarbonization debate, but given a decade or two of aggressive investment it could be producing baseload power," he said.

Less than 2% of the world's total energy comes from geothermal resources, though scientists suspect it could be a near-inexhaustible source of energy.

"Always available zero-carbon energy isn't a far-off dream," said Terra Rogers, the program director for rock energy program at the task force.

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