A recent article in Wood Mackenzie spoke about the future costs of energy and compared them to geothermal, but more importantly, closed-Loop geothermal.
“…solar and wind can’t do it all on their own. Intermittency, or more precisely variability, is a problem. In the power system of the future, wind and solar will need to be complemented by batteries to meet peak demand – and by clean, dependable baseload. That’s where geothermal comes in.”
The article mentions Eavor, referring to how recently, bp and Chevron both invested, among others in Eavor, to further research and development of the Eavor-Loop™.
“The project pipeline is gathering steam. Chevron, BP, EnBW and Mitsui (Moeco) are among the major energy companies investing with geothermal specialists such as Eavor-Loop™…”
The article breaks down the future cost projections with an excellent graph see below.
Continue reading “Future energy – geothermal power” featured in The Edge series on Wood Mackenzie.