Rising demand for renewable energy sources offering high capacity and lower life-cycle greenhouse gas emissions
- Geothermal power generation is more beneficial than renewable energy sources, such as hydropower, wind, and bioenergy. Geothermal power generation possesses advantages such as low atmospheric pollution, less usage of the land, no or zero liquid pollution on the re-injection of effluent fluid, and high availability, which is responsible for improving the market share for geothermal power in the forecast period
- Geothermal power generation has lower life-cycle greenhouse gas emissions than fossil fuel-based generation, and geothermal energy's ability to minimize greenhouse gas emissions is becoming more widely recognized. According to studies, geothermal electricity-generating has a lower environmental impact than typical fossil fuel-based electricity generators in air emissions, water consumption, and land use
- When compared to fossil fuel power plants of equal scale, geothermal power plants emit 97 percent less acid rain-causing sulfur compounds and around 99 percent less carbon dioxide. Scrubbers are used in geothermal power plants to remove hydrogen sulfide, naturally present in geothermal reservoirs
- Furthermore, the majority of geothermal power facilities recycle the geothermal steam and water they use. The recycling process aids in the replenishment of geothermal resources and the reduction of emissions from geothermal power plants
- Several factors such as the limited presence of fossil fuels, rise in greenhouse gas emissions, and increasing energy demand is further accelerating the market growth of geothermal power in recent times
Geothermal power plants have a small land footprint
- One of the key factors driving the growth of the geothermal power market is that geothermal power plants have a small land footprint when compared to other large-scale wind power, solar energy, or hydroelectric installations is the relatively low footprint of a geothermal plant
- This is because, unlike wind, solar, and hydropower, geothermal energy comes from within the earth, and there is no need to build out collection setups over large swaths of land surface to harness it
- For instance, National Geographic estimates that a geothermal power plant capable of producing 1 gigawatt-hour (GWh) of electricity would take up approximately 404 square miles of the land surface, while a wind farm at the same energy output would need about 1,335 square miles, and a solar farm would need about 2,340 square miles. That’s 88 percent less space for a geothermal power plant compared to a solar farm, both sized at 1 GWh
- An entire geothermal field uses 1-8 acres per megawatt (MW) versus 5-10 acres per MW for nuclear operations and 19 acres per MW for coal power plants
- Moreover, geothermal is great for baseload power. Unlike wind and solar farms, a geothermal plant can make electricity 24 hours a day, seven days a week. This makes geothermal power a viable and renewable source of baseload power. The wind is a poor choice for this kind of power because it is unpredictable, and solar isn’t suitable because the sun goes down.
Enormous untapped potential for geothermal energy in several countries
- Geothermal power plants can provide essential grid services and operate in a load-following mode, helping to support reliability and flexibility in the U.S. grid and ultimately facilitate a diverse, secure energy mix
- In the technology improvements scenario, geothermal can realize dramatic growth in geothermal electricity generation and potentially increase geothermal generation more than 26-fold from today’s level–reaching 60 GW of installed capacity by 2050
- This capacity would make up 3.7% of total U.S. installed capacity in 2050, and generate 8.5% of all U.S. electricity generation
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DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within less than a year, we have secured more than 100 unique customers from established organizations all over the world.
For more information:
Sai Kiran
Sales Manager at DataM Intelligence
Email: [email protected]
Tel: +1 877 441 4866
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