Renewable energy has been an important topic at the United Nations Climate Conference in Copenhagen. Applying and developing Geothermal Energy technology is an important part of increasing the utilisation of renewable energy today. Geothermal energy can play an important role today as it not only produces electricity, but also replaces fossil-fuel based heating systems around the world.
Geothermal energy can be used in many ways, such as generating electricity and most importantly, providing a clean alternative for heating. As highlighted by the U.S. Geothermal Energy Association, there are a recent number of reference case studies from cities around the world utilising geothermal energy for heating. Samples of cities like Reykjavik, Paris, Xian Yang in China and others show that geothermal heating provides not only a clean, but also a sustainable and cost-saving alternative to heat homes on a large scale. It helps replace other energy sources and cut back emissions, having a direct and immediate effect on the life quality in those cities – Heat from geothermal wells can also be used for other heat applications, from swimming pools to greenhouses and food dehydration.
Geothermal power generation – while currently providing only a fraction of today‘s overall world electricity generation – also provides large opportunities. With the technology currently available, power output from geothermal power plants could see a 10-fold increase within the next 5-10 years.
In his recently released book ‘Our Choice – A Plan to Solve the Climate Crisis’ former U.S. Vice President Al Gore, talks about geothermal energy as “potentially the largest – and presently the most misunderstood – source of energy (…) in the world today.”
Major businesses across the globe have shown their interest towards the positive affects of geothermal energy, including the Icelandic bank, Islandsbanki. The bank has expressed their belief in the promotion and usage of geothermal energy by providing financial resources aimed at strengthening the industry.
Geothermal energy is derived from heat within the earth. People can use the steam and hot water created inside the earth to heat buildings or produce electricity.