The World Resources Institute completed an analysis of the benefits, costs and potential risks of next-generation geothermal energy, stating that this technology is already bringing down capital costs and standing out for its high resource potential.
Geothermal energy has been utilized for over a century, but its potential has traditionally been limited to regions with naturally occurring heat and high permeability in subsurface rock. Next-generation geothermal technology, however, no longer requires access to underground aquifers, significantly expanding its global potential.
Eavor is already demonstrating this approach with its first commercial project in Geretsried, Germany, showcasing its ability to deliver carbon-free heat reliably.
The analysis stated that there is a "myriad of benefits" for geothermal. It produces minimal greenhouse gas emissions, has a smaller land footprint than most energy sources, and does not emit greenhouse gases. While it uses more water than solar and wind, it consumes less than coal, nuclear, and biomass, and can operate with non-freshwater sources.
Despite its promise, the analysis states that geothermal still faces challenges. It emphasizes the need for greater government funding, faster permitting processes, and safeguards to minimize risks.
Moreover, it stated that geothermal energy is a crucial part of achieving 100 percent clean dispatchable power, while also offering solutions for decarbonizing buildings and industrial sectors. With adequate support, next-generation geothermal can become a vital component of a zero-carbon energy grid, complementing renewables like wind and solar.
