The International Energy Agency involves 32 member nations and 17 other associates. Together, these countries are responsible for about three-quarters of global energy consumption and almost 90 percent of clean energy investments. IEA recently published The Future of Geothermal Energy. The report notes that modern technologies enable the world to produce clean, attractively-priced geothermal energy.
If geothermal mirrors the success of solar PV and wind, it may be a cornerstone of future clean electricity generation. Next-generation geothermal systems are capable of meeting global electricity demand 140-times over.
Geothermal can provide around-the-clock electricity generation, heat production and storage. As the energy source is continuous, geothermal power plants can operate at their maximum capacity throughout the day and year. On average, global geothermal capacity had a utilisation rate over 75% in 2023, compared with less than 30% for wind power and less than 15% for solar PV. In addition, geothermal power plants can operate flexibly in ways that contribute to the stability of electricity grids, ensuring demand can be met at all times and supporting the integration of variable renewables such as solar PV and wind.
…We estimate that, with the right support, costs for next-generation geothermal could fall by 80% by 2035. At that point, new projects could deliver electricity for around USD 50 per megawatt-hour, which would make geothermal one of the cheapest dispatchable sources of low-emissions electricity, on a par or below hydro, nuclear and bioenergy. At this cost level, next-generation geothermal would also be highly competitive with solar PV and wind paired with battery storage.
Challenges to implementing geothermal include:
- Dedicated geothermal permitting regimes may be necessary to reduce regulatory barriers.
- Governments must prioritize geothermal in clean energy policy agendas.
- Geothermal-specific research and innovation programmes need regular funding.
- Robust environmental and social safeguards are required.
- Oil and gas industry cooperation is needed to implement existing drilling technologies.
- Skills shortfall must be addressed.
Geothermal energy comes from deep inside the earth
The slow decay of radioactive particles in the earth’s core, a process that happens in all rocks, produces geothermal energy.
The earth has four major parts, or layers:
- An inner core of solid iron that is about 1,500 miles in diameter
- An outer core of hot molten rock called magma that is about 1,500 miles thick.
- A mantle of magma and rock surrounding the outer core that is about 1,800 miles thick
- A crust of solid rock that forms the continents and ocean floors that is 15 miles to 35 miles thick under the continents and 3 miles to 5 miles thick under the oceans
Scientists have discovered that the temperature of the earth’s inner core is about 10,800 degrees Fahrenheit (°F), which is as hot as the surface of the sun. Temperatures in the mantle range from about 392°F near the mantle-crust boundary to about 7,230°F near the mantle-core boundary. Rocks and water absorb heat from magma deep underground. The rocks and water found deeper underground have the highest temperatures.
The earth’s crust is broken into pieces called tectonic plates. Magma comes close to the earth’s surface near the edges of these plates and can move to the surface of the earth through gaps in the plates. This is where volcanoes occur. Magma that reaches the earth’s surface is called lava.
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Hat tip to reader Pat McCutcheon for pointing me to this IEA report.
Categories: Geothermal
in-sights.ca 
About as obvious as the nose on your face, I can see Mrs. Smith seething with anger now, trying to put up barriers for this!
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Even though the oil & gas industry has, by far, the largest pool of talent and equipment to build out the nascent next generation geothermal (NGG) industry they remain firmly on the sidelines. The oil & gas industry’s massive profits rely heavily on the planet being addicted to the products they sell and NGG presents a very real threat.
The NGG business model cannot compete with the oil & gas business model. NGG does not sell a product, but, rather a service. For a NGG company to stay in business they need to maintain a steady pipeline of projects in front of them. The oil & gas industry sells a highly addictive product which they will continue to push around the planet regardless of the societal, environment and climate consequences.
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The promise of next generation geothermal is echoed in a recent Daily Oil Bulletin article. When will British Columbia wakeup and smell the coffee?
A detailed report from the Daily Oil Bulletin highlights how Eavor’s cost estimates could surpass the growth projections made by major energy forecasters. While institutions such as the International Energy Agency (IEA), Shell, and Wood Mackenzie predict moderate growth in geothermal capacity, Eavor’s technological innovations suggest that the sector could experience more significant expansion than previously anticipated.
Conventional geothermal energy is limited to regions with high thermal gradients and requires permeable reservoirs, leading to higher costs and restricted scalability. The article states that the global levelized cost of electricity (LCOE) for geothermal currently ranges between $56 and $93 per megawatt-hour (MWh), comparable to nuclear but less competitive than solar and wind. However, next-generation technologies are anticipated to lower this cost significantly. Advanced geothermal systems (AGS), such as Eavor’s, do this by extracting energy from low-permeability rock and average thermal gradients.
Eavor’s project in Geretsreid, Germany, is targeting 60 MW of thermal heat and 8.2 MW of power, this closed-loop system eliminates the need for fracking or permeable reservoirs. According to Robert Winsloe, Eavor’s executive vice-president of origination, the company expects its AGS technology to achieve an LCOE of $75/MWh by 2029–2030, far earlier than Wood Mackenzie’s 2050 projection. He emphasized that the success of Eavor’s prototype in Rocky Mountain House, AB, and its demonstration project in New Mexico was crucial to proving the technology’s potential to achieve this cost target.
“Eavor proved technologies there that will now be used in commercial projects around the world, including Geretsreid,” Winsloe said, citing innovations like insulated drill pipes and shock-cooling technology that enhance drilling efficiency.
Eavor has several upcoming projects in its pipeline, each anticipated to contribute valuable insights that will help demonstrate the company’s anticipated downward learning and cost curve.
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