GEOTHERMAL ENERGY-CURRENT STATUS AND FUTURE POSSIBILITIES
gas and there are real concerns whether other energy sources can completely satisfy the required (and growing) demand.
Where does Geothermal Energy Go from Here?
The heat generated within the Earth is constant and predictable; however, our energy needs are not. Creating excess supply via geothermal means may be a challenge in the event of a surge in demand. As a developing technology, ways to solve peak demands and other supply-side issues are under way. New, more efficient drilling techniques create the possibility to scale geothermal to achieve output on par with coal or nuclear powered plants (Goldstein and Hiriart). The development of flexible power generation and storage systems will allow plants to more efficiently capture the Earth’s heat and take advantage of the excess energy generated overnight to funnel it back into the system when it is needed. Using new technology, particularly enhanced geothermal systems which rely on natural “hot tank” designs (Olasolo et al., 2016), geo- thermal energy can become a realistic option to replace coal and petroleum generated energy and may soon be more widely utilized as a renewable energy source. Current U.S. installed geothermal capacity is approximately 4,000 megawatts, which generate about 15 billion kilowatt hours of electricity per year; equivalent of 25 million barrels of oil (GEA, 2013). Worldwide, development of geothermal power sources is expected to peak by 2030 and account for up to 10 percent of global energy production (Manzan & Agugliaro, 2013; Zheng, 2015). These projections do not take into account improvements to existing systems or the roll-out of new technologies (Hepbasli, 2008).
Geothermal energy is a field that is continuing to develop in terms of innovation and power generation productivity. The disadvantages, although small in number and large in impor- tance, do pose a meaningful threat to the more widespread use of geothermal energy in the future. The demand for geothermal energy is increasing largely due to its comparatively low cost of plant development, environmental benefits, essentially unlimited resource availability, and anticipated economic advantages (Stober & Bucher, 2013; Rybach, 2014). Current research and energy growth projections strongly indicate that within the next 50 to 100 years, geothermal energy will become a more substantial contributor to the world’s energy supply, eventually helping to replace coal and other fossil fuels.
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