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GEOTHERMAL ENERGY ‘Geothermal’ literally means ‘Earth’s heat’. The temperature at the Earth’s core is estimated to be 5,500 degrees centigrade – about as hot as the surface of the sun. Geothermal energy is a clean, renewable resource that can be tapped by many countries around the world located in geologically favourable areas. Geothermal energy can be harnessed from underground reservoirs, containing hot rocks saturated with water and/or steam. Wells of typically two kilometres in depth or more are drilled into the reservoirs. The hot water and steam are then piped up to a geothermal power plant, where they are used to drive electric generators to create power for businesses and homes. Geothermal energy is considered a renewable resource because it exploits the abundant Earth’s interior heat, and the water, once used and cooled, is then piped back to the reservoir. It can be utilized for electricity production and for direct use, e.g. for heating and industrial purposes. GEOTHERMAL ENERGY COMPARED TO OTHER RENEWABLES • Geothermal energy can be utilized for electricity production and for using geothermal heat directly, e.g. for heating purposes, food processing, fish farming, bathing and other applications that require heat. In this, geothermal is unique compared to other renewables. It not only provides a real base-load capacity for electricity generation, but also presents a real and cleaner alternative to fossil fuels for heat production. • The overall prospects for geothermal energy utilization, either for electricity generation or direct use are excellent. While depending heavily on political and financial support, geothermal energy represents the only real base-load capacity alternative to fossil fuels, such as coal or oil. The biggest potential and prospects for the short(er) term are in the direct use of geothermal energy, particularly for heating and other applications that use heat directly. With technological developments, e.g. in binary systems and engineered geothermal systems, geothermal could provide all the electricity of this world. Capacity Factors selected Renewables1 Average Net Capacity (%) Net Capacity Factor (%) averages for selected renewables Source: Glitnir Research September 2007 – Glitnir Geothermal Research 6PDF Image | GEOTHERMAL ENERGY MARKET REPORT
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