Geothermal energy harnesses the Earth’s internal heat to generate electricity and heat sustainably. It is a clean, constant, and low-impact energy source.
Recent and Most Used Technologies:
The most commonly used technologies in geothermal energy include dry steam, flash steam, and binary cycle plants. Binary cycle plants have recently gained prominence as they allow the use of lower-temperature geothermal resources (100-150 °C), expanding their applicability in various regions worldwide. Advanced technologies, such as Enhanced Geothermal Systems (EGS), are also being developed to increase productivity by artificially fracturing rock formations to create new geothermal reservoirs. Moreover, geothermal heat pumps are popular for residential and commercial applications, providing efficient heating and cooling by exchanging heat with the subsurface.
Production Costs and Capacities:
The cost of electricity generation using geothermal energy ranges from $0.05 to $0.15 per kWh, depending on the resource quality and the type of plant installed. Initial investment costs vary between $2,500 and $5,000 per kW installed, with higher costs for projects requiring deep drilling. However, operational costs are relatively low since the “fuel” (Earth’s heat) is free and constant. In terms of capacity, plants like Hellisheiði in Iceland, with an installed capacity of 303 MW, demonstrate geothermal energy’s potential at a large scale. This sector is steadily growing, with projections estimating a global installed capacity of 24 GW by 2030, driven by new technology developments and the exploration of untapped resources in underutilized regions.
