Geothermal's potential to be a pivotal player in the energy transition

Geothermal is poised to become an increasingly significant contributor to the global clean energy portfolio, thanks to technological breakthroughs and a changing investment landscape, Jeremy O'Brien tells OGN

- BY ABDULAZIZ KHATTAK

As the world grapples with the need to transition to cleaner and more sustainable energy sources, geothermal energy stands out as a promising contender to help the world meet United Nations Sustainability Development Goals (UNSDGs).

“Used by humans for thousands of years for heating and cooking, this old yet still innovative baseload energy source has the potential to modernise energy production, offering a reliable, consistent, and environmentally friendly alternative to conventional fossil fuels,” Jeremy O'Brien, Segment Director, Energy at Seequent, tells OGN energy magazine.

A recent report by the International Renewable Energy Agency (IRENA) predicted that the output of geothermal in Europe could increase eight-fold by 2050.

Additionally, a 2019 US Department of Energy (DOE) report found that by overcoming technical and financial barriers, generating electricity through geothermal methods could increase an enormous 26-fold by 2050, providing 8.5 per cent of the United States' electricity, as well as direct heat.

THE GAME-CHANGING POSSIBILITIES

The environmental and economic benefits of geothermal energy are compelling. Unlike fossil fuels, geothermal energy is a renewable resource that produces minimal greenhouse gas emissions. As one of only two clean baseload options, the other being nuclear, geothermal can supply significantly more carbon-free heat and continuous baseload power, something that other renewable but more intermittent forms, such as wind and solar power, are unable to do.

Additionally, the jobs created by development of geothermal energy can be a welcome shot in the arm for local communities, particularly in regions where there is significant geothermal potential.