Geothermal heat – huge global energy source
Under your feet, the Earth is hot. Geothermal heat has been used as energy source for a long time, and in recent years new technology with high efficiency rates has opened a market for generating electricity from geothermal heat. Many countries have realized this potential and are now giving incentives to encourage green/renewable electricity generation.
– Having worked in this sector for many years, I am still amazed by the untapped potential in geothermal energy, says Björn. Theoretically, geothermal heat could supply the entire global demand for energy, but in many types of applications costs are too high and other energy sources are a better option. But in the right spot, geothermal has a unique capacity to generate electricity without needing any fuel during the full life-cycle. Solar and wind power are other great energy sources, but they depend on weather, and are also exposed to the elements in a way that gives a lot of wear and tear on the equipment. Geothermal is a great option for decentralized electricity production. It has the ability to deliver electricity 24/7 year round. Micro-grids, and district heating can deliver heat and electricity far away from already established infrastructure.
As efficiency has increased also low-heat sources can effectively be harvested. There is a great possibility to transform low temperature waste heat from industries and geothermal heat into clean electricity.
– A large portion of the world’s energy consumption can be supplied by waste heat and low temperature geothermal sources. waste energy has been termed “the new natural energy resource. But actually, the only thing that is new, is that we now see a demand to reduce CO2 emissions, that incur costs for emission rights onto fossil energy sources. This has in many ways flipped the board, and made our technology not just climate-friendly, but also more cost effective.
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