Thu, 14 April, 2022
A new article from the GEOSMART consortium highlights how geothermal energy could solve the current energy price crisis.
Gas prices have risen sharply across Europe since the summer of 2021, due to factors including the cold winter of 2020, the economic impact of the Covid-19 pandemic, issues with infrastructure for fossil fuel production, and most recently, the Russian invasion of Ukraine.
However, this crippling ‘energy crisis’ is actually a ‘gas crisis,’ with the cost of other forms of power generation, such as geothermal, being far less effected. Not only has geothermal avoided the worst of the increases, geothermal plants collectively have the highest capacity factor of any electricity generation technology – renewable or not.
This blog reveals how geothermal systems can offer an integrated energy solution, coupled with benefits such as thermal heating and storage.
Of course, we have some distance to go until geothermal is able to reach its full potential across Europe, but these are primarily economic and regulatory challenges and this article lays out the key steps to reach this goal.
You can read the full blog, below: Energy Prices - the geothermal answer - pdf - 6mb
The GEOSMART project has received funding from the European Union's Horizon 2020 research and innovation programme. Grant agreement 818576.