Geothermal Energy: The Reliable, Sustainable Power Source of the Future
Geothermal energy, harnessing the Earth's heat, is gaining traction as a reliable and sustainable power source. It can continuously supply electricity and quickly adjust generation to meet demand fluctuations. This clean energy source could meet global demand for centuries, with the potential to generate 90-100 gigawatts in the USA by 2050.
Geothermal power plants require significantly less land than solar or wind energy for the same electricity output. They also create more indirect jobs than wind or solar projects. US companies have expanded globally, launching projects in Taiwan, Japan, Eastern Europe, and Kenya, besides several US states.
Geothermal energy's emissions are far lower than those from fossil fuel-fired plants. Its power plants have a longer operating life compared to solar or wind technologies. Additionally, lithium can be extracted from the water used in geothermal electricity generation in some cases. The US Department of Energy supported geothermal research and development in 2021 with approximately $147 million in funding.
Costs associated with next-generation geothermal energy could fall by 80 percent by 2035, making it competitive with solar and wind energy paired with battery storage. This price reduction could see geothermal energy cost around $50 per megawatt-hour by 2035.
Geothermal energy's potential is vast, with the ability to continuously supply electricity, create jobs, and reduce emissions. With cost reductions on the horizon, it could become increasingly competitive with other renewable energy sources. Its global potential and long operating life make it a promising addition to the clean energy mix.
Read also:
- Romania's EV Market Sees Mixed Developments: Dacia Retains Lead, Charging Infrastructure Grows
- Tata Motors Establishes 25,000 Electric Vehicle Charging Stations Nationwide in India
- Tesla's Nevada workforce has escalated to a daily output of 1,000 Powerwall units.
- AI-Enhanced Battery-Swapping Station in Southeast Asia Officially Opens Its Doors
