MarketGeothermal energy
Company Profile

Geothermal energy

Geothermal energy is thermal energy extracted from the Earth's crust. It combines energy from the formation of the planet and from radioactive decay. Geothermal energy has been exploited as a source of heat and/or electric power for millennia.

History
in the 3rd century BC Hot springs have been used for bathing since at least Paleolithic times. The oldest known spa is at the site of the Huaqing Chi palace. In the first century CE, Romans conquered Aquae Sulis, now Bath, Somerset, England, and used the hot springs there to supply public baths and underfloor heating. The admission fees for these baths probably represent the first commercial use of geothermal energy. The world's oldest geothermal district heating system, in Chaudes-Aigues, France, has been operating since the 15th century. The earliest industrial exploitation began in 1827 with the use of geyser steam to extract boric acid from volcanic mud in Larderello, Italy. In 1892, the US's first district heating system in Boise, Idaho, was powered by geothermal energy. It was copied in Klamath Falls, Oregon, in 1900. The world's first known building to utilize geothermal energy as its primary heat source was the Hot Lake Hotel in Union County, Oregon, beginning in 1907. A geothermal well was used to heat greenhouses in Boise in 1926, and geysers were used to heat greenhouses in Iceland and Tuscany at about the same time. Charles Lieb developed the first downhole heat exchanger in 1930 to heat his house. Geyser steam and water began heating homes in Iceland in 1943. began operation of the first US geothermal power plant at The Geysers in California. The original turbine lasted for more than 30 years and produced 11 MW net power. An organic fluid based binary cycle power station was first demonstrated in 1967 in the USSR ==Resources==
Resources
The Earth has an internal heat content of 1031 joules (3·1015 TWh), About 20% of this is residual heat from planetary accretion; the remainder is attributed to past and current radioactive decay of naturally occurring isotopes. For example, a 5275 m deep borehole in United Downs Deep Geothermal Power Project in Cornwall, England, found granite with very high thorium content, whose radioactive decay is believed to power the high temperature of the rock. Earth's interior temperature and pressure are high enough to cause some rock to melt and the solid mantle to behave plastically. Parts of the mantle convect upward since it is lighter than the surrounding rock. Temperatures at the core–mantle boundary can reach over . The Earth's internal thermal energy flows to the surface by conduction at a rate of 44.2 terawatts (TW), These power rates are more than double humanity's current energy consumption from all primary sources, but most of this energy flux is not recoverable. In addition to the internal heat flows, the top layer of the surface to a depth of is heated by solar energy during the summer, and cools during the winter. Outside of the seasonal variations, the geothermal gradient of temperatures through the crust is per km of depth in most of the world. The conductive heat flux averages 0.1 MW/km2. These values are much higher near tectonic plate boundaries where the crust is thinner. They may be further augmented by combinations of fluid circulation, either through magma conduits, hot springs, hydrothermal circulation. The thermal efficiency and profitability of electricity generation is particularly sensitive to temperature. Applications receive the greatest benefit from a high natural heat flux most easily from a hot spring. The next best option is to drill a well into a hot aquifer. An artificial hot water reservoir may be built by injecting water to hydraulically fracture bedrock. The systems in this last approach are called enhanced geothermal systems. 2010 estimates of the potential for electricity generation from geothermal energy vary widely, from depending on the scale of investments. ==Geothermal power==
Geothermal power
Geothermal power is electrical power generated from geothermal energy. Dry steam, flash steam, and binary cycle power stations have been used for this purpose. As of 2010 geothermal electricity was generated in 26 countries. As of 2019, worldwide geothermal power capacity amounted to 15.4 gigawatts (GW), of which 23.86% or 3.68 GW were in the United States. Geothermal energy supplies a significant share of the electrical power in Iceland, El Salvador, Kenya, the Philippines and New Zealand. Geothermal power is considered to be a renewable energy because heat extraction rates are insignificant compared to the Earth's heat content. Geothermal electric plants were traditionally built on the edges of tectonic plates where high-temperature geothermal resources approach the surface. These plants are usually built on land where the subsurface has high temperatures, is highly permeable, and is near a large water reserve as a source for a working fluid. The development of binary cycle power plants and improvements in drilling and extraction technology enable enhanced geothermal systems over a greater geographical range. In Myanmar over 39 locations are capable of geothermal power production, some of which are near Yangon. ==Geothermal heating==
Geothermal heating
Geothermal heating is the use of geothermal energy to heat buildings and water for human use. Humans have done this since the Paleolithic era. Approximately seventy countries made direct use of a total of 270 PJ of geothermal heating in 2004. As of 2007, 28 GW of geothermal heating satisfied 0.07% of global primary energy consumption. that may be extracted with a ground source heat pump. ==Types==
Types
Hydrothermal systems Hydrothermal systems produce geothermal energy by accessing naturally occurring hydrothermal reservoirs. Hydrothermal systems come in either vapor-dominated or liquid-dominated forms. Vapor-dominated plants Larderello and The Geysers are vapor-dominated. Vapor-dominated sites offer temperatures from 240 to 300 °C that produce superheated steam. Liquid-dominated plants Liquid-dominated reservoirs (LDRs) are more common with temperatures greater than and are found near volcanoes in/around the Pacific Ocean and in rift zones and hot spots. Flash plants are the common way to generate electricity from these sources. Steam from the well is sufficient to power the plant. Most wells generate 2–10 MW of electricity. Steam is separated from liquid via cyclone separators and drives electric generators. Condensed liquid returns down the well for reheating/reuse. As of 2013, the largest liquid system was Cerro Prieto in Mexico, which generates 750 MW of electricity from temperatures reaching . Lower-temperature LDRs () require pumping. They are common in extensional terrains, where heating takes place via deep circulation along faults, such as in the Western US and Turkey. Water passes through a heat exchanger in a Rankine cycle binary plant. The water vaporizes an organic working fluid that drives a turbine. These binary plants originated in the Soviet Union in the late 1960s and predominate in new plants. Binary plants have no emissions. Enhanced geothermal systems Enhanced geothermal systems (EGS) actively inject water into wells to be heated and pumped back out. The water is injected under high pressure to expand existing rock fissures to enable the water to flow freely. The technique was adapted from oil and gas fracking techniques. The geologic formations are deeper and no toxic chemicals are used, reducing the possibility of environmental damage. Instead proppants such as sand or ceramic particles are used to keep the cracks open and producing optimal flow rates. Drillers can employ directional drilling to expand the reservoir size. ==Economics==
Economics
As with wind and solar energy, geothermal power has minimal operating costs; capital costs dominate. Drilling accounts for over half the costs, and not all wells produce exploitable resources. For example, as of 2009 a typical well pair (one for extraction and one for injection) in Nevada can produce 4.5 megawatts (MW) and costs about $10 million to drill, with a 20% failure rate, making the average cost of a successful well $50 million. Drilling geothermal wells is more expensive than drilling oil and gas wells of comparable depth for several reasons: • Geothermal reservoirs are usually in igneous or metamorphic rock, which is harder to penetrate than the sedimentary rock of typical hydrocarbon reservoirs. • The rock is often fractured, which causes vibrations that damage bits and other drilling tools. • The rock is often abrasive, with high quartz content, and sometimes contains highly corrosive fluids. • The rock is hot, which limits use of downhole electronics. • Well casing must be cemented from top to bottom, to resist the casing's tendency to expand and contract with temperature changes. Oil and gas wells are usually cemented only at the bottom. • Well diameters are considerably larger than typical oil and gas wells. As of 2007 plant construction and well drilling cost about €2–5 million per MW of electrical capacity, while the break-even price was 0.04–0.10 € per kW·h. Between 2013 and 2020, private investments were the main source of funding for renewable energy, comprising approximately 75% of total financing. The mix between private and public funding varies among different renewable energy technologies, influenced by their market appeal and readiness. In 2020, geothermal energy received just 32% of its investment from private sources. Socioeconomic benefits In January 2024, the Energy Sector Management Assistance Program (ESMAP) report "Socioeconomic Impacts of Geothermal Energy Development" was published, highlighting the substantial socioeconomic benefits of geothermal energy development, which notably exceeds those of wind and solar by generating an estimated 34 jobs per megawatt across various sectors. The report details how geothermal projects contribute to skill development through practical on-the-job training and formal education, thereby strengthening the local workforce and expanding employment opportunities. It also underscores the collaborative nature of geothermal development with local communities, which leads to improved infrastructure, skill-building programs, and revenue-sharing models, thereby enhancing access to reliable electricity and heat. These improvements have the potential to boost agricultural productivity and food security. The report further addresses the commitment to advancing gender equality and social inclusion by offering job opportunities, education, and training to underrepresented groups, ensuring fair access to the benefits of geothermal development. Collectively, these efforts are instrumental in driving domestic economic growth, increasing fiscal revenues, and contributing to more stable and diverse national economies, while also offering significant social benefits such as better health, education, and community cohesion. == Development ==
Development
Geothermal projects have several stages of development. Each phase has associated risks. Many projects are canceled during the stages of reconnaissance and geophysical surveys, which are unsuitable for traditional lending. At later stages can often be equity-financed. ==Sustainability==
Sustainability
Geothermal energy is sustainable because the heat extracted is so small compared to the Earth's heat content, which is approximately 100 billion times 2010 worldwide annual energy consumption. However, local effects of heat extraction must be considered. The Wairakei power station was commissioned in November 1958, and it attained its peak generation of 173 MW in 1965, but already the supply of high-pressure steam was faltering. In 1982 it was down-rated to intermediate pressure and the output to 157 MW. In 2005, two 8 MW isopentane systems were added, boosting output by about 14 MW. Detailed data were lost due to re-organisations. ==Environmental effects==
Environmental effects
Fluids drawn from underground carry a mixture of gasses, notably carbon dioxide (), hydrogen sulfide (), methane () and ammonia (). These pollutants contribute to global warming, acid rain and noxious smells if released. Existing geothermal electric plants emit an average of of per megawatt-hour (MW·h) of electricity, a small fraction of the emission intensity of fossil fuel plants. A few plants emit more pollutants than gas-fired power, at least in the first few years, such as some geothermal power in Turkey. Plants that experience high levels of acids and volatile chemicals are typically equipped with emission-control systems to reduce the exhaust. New emerging closed looped technologies developed by Eavor have the potential to reduce these emissions to zero. Water from geothermal sources may hold in solution trace amounts of toxic elements such as mercury, arsenic, boron, and antimony. These chemicals precipitate as the water cools, and can damage surroundings if released. The modern practice of returning geothermal fluids into the Earth to stimulate production has the side benefit of reducing this environmental impact. Construction can adversely affect land stability. Subsidence occurred in the Wairakei field. Enhanced geothermal systems can trigger earthquakes as part of hydraulic fracturing. A project in Basel, Switzerland was suspended because more than 10,000 seismic events measuring up to 3.4 on the Richter Scale occurred over the first 6 days of water injection. {{Citation| first1 = N.| last1 = Deichmann| title = Seismicity Induced by Water Injection for Geothermal Reservoir Stimulation 5 km Below the City of Basel, Switzerland| year = 2007| bibcode = 2007AGUFM.V53F..08D| last2 = Mai| last3 = Bethmann Geothermal power production has minimal land and freshwater requirements. Geothermal plants use per gigawatt of electrical production (not capacity) versus and for coal facilities and wind farms respectively. They use of freshwater per MW·h versus over per MW·h for nuclear, coal, or oil. ==Production==
Production
Philippines The Philippines began geothermal research in 1962 when the Philippine Institute of Volcanology and Seismology inspected the geothermal region in Tiwi, Albay. The first geothermal power plant in the Philippines was built in 1977, located in Tongonan, Leyte. The Tongonan Geothermal Field (TGF) added the Upper Mahiao, Matlibog, and South Sambaloran plants, which resulted in a 508 MV capacity. The first geothermal power plant in the Tiwi region opened in 1979, while two other plants followed in 1980 and 1982. The three geothermal power plants in the Tiwi region produce 330 MWe, putting the Philippines behind the United States and Mexico in geothermal growth. The Philippines has seven geothermal fields and continues to exploit geothermal energy by creating the Philippine Energy Plan 2012–2030 that aims to produce 70% of the country's energy by 2030. United States According to the Geothermal Energy Association (GEA) installed geothermal capacity in the United States grew by 5%, or 147.05 MW, in 2013. This increase came from seven geothermal projects that began production in 2012. GEA revised its 2011 estimate of installed capacity upward by 128 MW, bringing installed US geothermal capacity to 3,386 MW. Hungary The municipal government of Szeged is trying to cut down its gas consumption by 50 percent by utilizing geothermal energy for its district heating system. The Szeged geothermal power station has 27 wells, 16 heating plants, and 250 kilometres of distribution pipes. ==See also==
tickerdossier.comtickerdossier.substack.com