Geothermal energy, derived from the Earth’s internal heat, is an underutilised but highly promising renewable energy source.
With growing concerns over climate change and energy security, the development of geothermal power has gained renewed attention. This article explores the current state of geothermal energy in the United Kingdom, Europe, Australasia, and the United States, examining key regions, producers, energy generation, ongoing projects, costs, market prices, and its role in national grids or hydrogen production.
Geothermal Energy in the United Kingdom
The UK’s geothermal resources are relatively limited compared to volcanic regions, but there is untapped potential. Current efforts focus on deep geothermal projects for electricity and heating. The United Downs Deep Geothermal Power Project in Cornwall is a leading initiative, aiming to generate electricity and supply heat to local communities. Additionally, feasibility studies in regions such as Newcastle and Manchester are exploring geothermal district heating schemes.
Despite these efforts, large-scale geothermal electricity production is not yet operational in the UK. However, geothermal heat projects continue to gain traction as part of the UK’s transition to net zero.
Geothermal Development Across Europe
Europe has a well-established geothermal industry, with several nations harnessing this energy for power generation and heating:
-
Italy:
One of the pioneers in geothermal energy, Italy has an installed capacity of approximately 916 MW, primarily in Tuscany.
-
Turkey:
Rapid development has led to an installed capacity of around 1,691 MW, positioning Turkey as a leading geothermal energy producer in Europe.
-
Iceland:
Utilising its volcanic activity, Iceland generates around 755 MW from geothermal power, covering a significant portion of its electricity and heating needs.
The European geothermal sector is expected to grow, with electricity generation projected to reach 27.30 billion kWh in 2025. Countries such as Germany and France are investing heavily in deep geothermal projects, expanding their renewable energy portfolios.
Geothermal Energy in Australasia
-
New Zealand:
With an installed geothermal capacity of 1,042 MW, New Zealand has integrated this renewable source into its national grid. It plays a crucial role in reducing the country’s dependence on fossil fuels.
-
Australia:
Despite significant geothermal potential, large-scale projects remain in the exploratory phase. Investment in enhanced geothermal systems (EGS) could unlock new opportunities in the future.
United States: A Global Leader in Geothermal Energy
The United States leads global geothermal electricity production, with a total installed capacity of around 3,965 MW. Key geothermal regions include:
-
California:
The state houses the largest geothermal field, The Geysers, contributing significantly to its renewable energy mix.
-
Nevada and Utah:
Emerging hubs for geothermal development, with new projects underway to expand capacity.
In 2021, geothermal plants in the U.S. generated approximately 96,552 GWh, and this figure is expected to rise to 37.2 billion kWh by 2050.
Ongoing Geothermal Projects and Innovations
-
Fervo Energy (USA):
Implementing advanced drilling techniques from the oil and gas industry to enhance geothermal efficiency.
-
Germany’s Deep Drilling Initiatives:
Utilising new technologies to unlock geothermal resources in previously unviable locations.
-
UK’s Eden Geothermal Project:
Targeting deep geothermal heating potential.
Notable projects worldwide include:
Cost and Market Considerations
-
Production Costs:
The cost of electricity (LCOE) for geothermal power is approximately USD 82 per MWh, making it competitive with fossil fuels.
-
Market Price for Industrial Consumers:
Electricity pricing varies by region, but geothermal energy offers a stable, long-term price advantage due to its reliability.
Grid Integration vs. Hydrogen Production
Geothermal power is well-suited for national grid integration, providing a steady baseload that complements intermittent renewables like wind and solar. However, its stable output also makes it an excellent candidate for hydrogen production through electrolysis. Dedicated geothermal-to-hydrogen projects could create a reliable green hydrogen supply, particularly in regions with high geothermal potential.
Geothermal energy remains a key player in the global transition to renewable energy. While development varies by region, ongoing innovations, favourable economics, and its potential role in green hydrogen production make it a compelling option for future energy strategies.
The post Geothermal Energy in the Global Renewable Energy Landscape first appeared on Haush.