New technologies mean geothermal energy has the potential for major global growth. A new International Energy Agency (IEA) report shows that by drawing on tech & expertise from the oil & gas industry to lower costs, geothermal can provide secure & clean energy in almost all countries → https://iea.li/4iAStEa With electricity use set to grow strongly to run air conditioners, EVs & data centres, geothermal offers clean power round-the-clock. If cost declines for new geothermal technologies continue, it could meet up to 15% of global electricity demand growth. More in the full report → https://iea.li/4g9TykN New geothermal projects have significant overlap with the skills & expertise of the oil & gas industry. A high level of knowledge transfer & productivity gains could reduce next-generation geothermal costs by nearly three-quarters. Market opportunities for next-generation geothermal energy could attract investment totalling $1 trillion by 2035 & create over a million new jobs. As well as serving fast-growing #electricity demand, geothermal can provide heat for industry and buildings around the world. Conventional #geothermal energy resources remain limited to a handful of countries. But new technologies are enabling projects to go deeper underground, making geothermal a potential option for almost all countries if they put the right policies in place & streamline permitting. To find out more about the future of geothermal energy, read IEA's full special report online ➡️ https://iea.li/4g9TykN And join lead authors Heymi Bahar & Brent Wanner and me for our livestreamed launch event today at 10am CET ➡️ https://iea.li/3OSLgSr
Exciting developments in geothermal energy! The potential for global growth, particularly with the help of oil & gas industry expertise, is huge. As new technologies drive costs down, geothermal could become a key player in meeting the rising demand for clean, 24/7 power. The promise of $1 trillion in investments and over a million new jobs by 2035 is truly transformative. Let's hope more countries adopt the right policies to unlock this potential!
Fatih Birol, to augment this excellent report, I propose an addendum in a year or so to highlight the high temperature, deep closed loop technology that transforms geothermal from megawatts to GigaWatts, such as https://www.amgeopower.com/
The potential for geothermal energy is indeed promising! 🌍 I'm curious, what specific policies do you see as crucial for enabling deeper projects globally? On a different note, I’d love to connect!
There's tremendous potential in geothermal energy, especially with advancements from the oil and gas sector. How do you see this influencing global energy policies?
Fatih Birol Geothermal is emerging as a game-changer - clean, reliable, and now accessible globally with the help of new technologies and industry expertise!
#Geothermal #Decade 🔥🔥🔥
fachübergreifende Projektberatung im Bereich (Tiefen) Geothermie und Management komplexer Genehmigungsverfahren // Interdisciplinary consultancy in the field of geothermal energy and management of approval processes.
4hThere is, undoubtedly, a substantial potential - and most of all an urgent need ! - to reduce (drilling) costs in geothermal development. However, ... are the cost reductions for drilling oil and gas wells in the past decades really as large as they are claimed to be? I have some doubts on this .... Most prices for equipment, crews/ personel, transport, disposal, chemicals etc. have seen a general (inflation) increase over the years. So the - almost - only factor to cut costs is drilling speed / time - without challenging safety issues.