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First Order Draft Contribution to Special Report Renewable Energy Sources (SRREN) 1 EXECUTIVE SUMMARY 2 Geothermal energy is literally the heat of the Earth’s interior. This heat can be tapped mainly 3 through wells in the form of naturally formed geothermal fluids (geothermal reservoirs) or fluids 4 artificially introduced from the surface (EGS: Enhanced Geothermal Systems). Once at surface, 5 both types of fluids can be indirectly used to generate electric energy in a power unit, or in a direct 6 way in several applications requiring heat, as heating and cooling for buildings, district heating, fish 7 ponds, balneology, greenhouses, industrial and agricultural production and mineral drying, as well 8 as space heating and cooling with geothermal heat pumps (GHP). 9 Geothermal is a renewable energy (RE) source since the tapped heat is continuously renovated by 10 natural processes of the Earth’s interior, and the extracted geothermal fluids are replenished by 11 natural recharge and by reinjection of the exhausted fluids, providing a sustainable development. 12 Given its locations and conditions, it is not expected that geothermal resources can be impacted by 13 climate change. 14 Geothermal technologies are mature with established markets around the world. Geothermal- 15 electric generation accounts for one century of commercial experience with more than 10 gigawatts 16 of installed capacity in 24 countries providing up to 15% of their electricity demand in some of 17 them; in all those countries, geothermal resources are used for base-load generation with an average 18 capacity factor of 77%. Geothermal direct applications can be traced since the Palaeolithic, and 19 currently there are almost 30 thermal gigawatts operating in 70 countries. Nevertheless, the 20 geothermal technical potential is estimated to be 1000 gigawatts for electricity and 50,000 thermal 21 gigawatts for direct uses, with an economic deployment of 160 gigawatts (electrical) and 815 22 gigawatts (thermal) by 2050. This could provide around 3% of the worldwide demand of electricity 23 by this year, with some countries obtaining almost 100% of their own electrical needs from 24 geothermal energy. 25 Direct CO2 emissions average 120 g/kWhe for currently operating conventional geothermal-electric 26 power plants and less than 1 g/kWhe for binary cycle plants. Corresponding figures for direct use 27 applications are even lower. The life-cycle assessment CO2-equivalent is 25-80 g/kWhe for binary 28 plants and 4-60 g/kWhth for district heating systems and GHP. This means geothermal resources are 29 environmentally advantageous and the net energy supplied more than offsets the environmental 30 impacts of human, energy and material inputs. 31 Even geothermal-electric projects have relatively high up-front capital costs, varying currently 32 between 2,000 and 10,000 US$ (2005) per 33 kilowatt], the levelized costs (LCOE) of geothermal electricity are competitive in the electric 34 markets, being calculated to be 49-75 US$ (2005) per megawatt-hour (MWh) and around 176 35 US$/MWh for future EGS projects. These costs are expected to lower to 44-63 US$/MWh (and 137 36 US$/MWh for EGS) by 2050. Costs of geothermal direct uses are also competitive (1,100 to 2,700 37 US$ per installed thermal kilowatt). 38 In despite of the present competitiveness of geothermal resources for electric and heating uses, 39 policy support for research and development is required for all geothermal technologies, and 40 especially for EGS, including subsidies, guarantees and tax write-off to cover the risks of initial 41 deep drilling. Feed-in tariffs with confirmed geothermal prices, and direct subsidies for district and 42 building heating can also be useful. 43 Geothermal energy is independent of the climate and has an inherent storage capacity that makes it 44 especially suitable for supplying base-load power in an economical way, and can thus serve as a Do Not Cite or Quote 3 of 47 Chapter 4 SRREN_Draft1_Ch04_Version03 22-Dec-09 megawatt [TSU: given capital cost values are perPDF Image | Chapter 4 Geothermal Energy
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