The Emerging Era of Geothermal: A deep dive into the past, present, and future of geothermal
The term ‘geothermal energy’ is appearing in news headlines and press releases with greater and greater frequency as nations around the world race to open doors for renewable resources. The good news: the geothermal industry is rife with innovation and real-time developments. The bad news? Conversations about the industry don’t often reach beyond the borders of the energy world. But entrepreneurial writer Yasmeen Naseer is trying to change that. With a multi-part series in the works, Naseer has used her first four articles in the series to break those niche barriers and inform the general public about the exciting and promising new developments in the world of next-generation geothermal.
Texas survey shows growing support for next-generation geothermal and other renewables
A recent report released by the University of Houston Hobby School of Public Affairs reveals how Texan poll respondents feel about renewable and traditional energy sources in the state. The poll included questions about conventional oil and gas, as well as the emerging industries of solar, wind, nuclear, and geothermal, and aimed to gauge how Texan’s see their role in the evolving energy sector following more than 20 years of grid instability. Well-known for being a ‘red’ republican state, the polls showed – what some may consider surprisingly – positive attitudes toward expanding renewable energy sources, with 64% in favour of solar expansion, 57% supporting wind farm and hydroelectric dam growth, 42% in favour of increasing nuclear plants, and 59% supporting geothermal expansion.
Next-generation geothermal energy is headed to the Caribbean
The Caribbean Development Bank allocated $17 million for the development of a geothermal project on the island of Nevis, according to an article by leading geothermal news source ThinkGeoEnergy.com. In early December, the Bank approved the multi-million dollar grant as the project advanced to the drilling stage. With up to three wells to be drilled, the project’s end goal is a renewable power plant with an output of 10 megawatts. The island’s population totals around12,000, with an energy demand that would be more than met by the geothermal plant in development. Nevis and its neighboring island of St. Kitts make up just one of many Leeward island nations in the Lesser Antilles, and currently generate electricity through the combustion of imported diesel.
Next-generation geothermal energy applications explored through U of C’s Sustainable Energy Masters program
The University of Calgary is training the next wave of green energy leaders in Alberta, one of the world’s leading oil and gas hubs. Enrolled in the Master of Science in Sustainable Energy Development (SEDV) program at the U of C, post-graduate students participate in classes to understand real-world dilemmas in the energy industry, and research projects geared toward creating new and innovative solutions for a green future. Dr. Irene Herremans, Ph.D., is the program’s capstone research course professor. U of C’s article by David Hedley, detailing the program and student project quoted her, saying: “the capstone research course is a microcosm of what we need to do on a larger scale to mobilize the effort and knowledge as we make our way on our sustainability journey.” Companies like Pipestone Energy Corp., who are looking for ways to meet emissions reduction targets, can partner with the program for in-depth research into the viability of solutions like solar integration. SEDV student Nikhitha Gajudhur dove deep into a cost, benefit, and design analysis and concluded a 5-acre solar farm could generate over half of the organization’s annual energy consumption and reduce CO2 output by over 1000 tonnes.
More money, fewer problems: European venture capitalists aim to inject millions of euros into climate, clean, and green tech industries
2022 proved to be a fruitful year for European venture capital funds, according to an article by Amy Lewin and Sadia Nowshin of Sifted.eu. Last year, more than €23.3 billion was raised by both established and up-and-coming venture capitalists. Unsurprisingly (but nonetheless encouraging), funds and firms are eyeing climate tech projects and start-ups as promising and politically prioritized investments. The European Union has committed to reducing emissions by 55% from 1990 levels by the end of the decade, and becoming the world’s first net-zero continent by 2050. Other European nations outside the EU have their own climate goals, including the United Kingdom, Turkey, Switzerland, and Norway. These commitments spell more than just positive change for the environment. For venture capitalists, they signal the start of a new global industry in need of financing now, with the potential for exponential returns in the future.
Geothermal Rising announces new Executive Director
Non-profit green energy think-tank Geothermal Rising appointed Bryant Jones as the new Executive Director on Tuesday, February 14th in a press release published on their website. Jones has studied the intersection of science and technology, policy, and energy transition over the last 5 years. His fifteen years of political experience gave him special insight into how advocacy groups influence the creation of industry narratives and boundaries, and subsequently, shape emerging relevant policies and regulations, a topic he explored during his 7 years at Boise State University. “I am excited to be part of a community that has the solutions we need to avert and drawdown the climate crisis while simultaneously transitioning the hydrocarbon workforce, skills and knowledge into the clean energy economy,” said Bryant.
Prime Time for next-generation geothermal has arrived, and Germany wants to capitalize
An early January article from German international news outlet Deutsche Welle (DW) theorizes the Golden Age of Geothermal may be upon us. Journalist Gero Rueter’s take on the topic is a well-versed one. Rueter has worked for DW for over 20 years, during which he developed and published a magazine focused on European Environmental reporting and news. With a spotlight on the potential for deep geothermal energy, Rueter notes that China is by far the largest producer of deep geothermal, with an output of 14 GW. Turkey, Japan, and Iceland follow, with 3, 2, and 2 GW of output respectively.
A new study estimates as much as 40% of Bavaria’s energy needs can be supplied by geothermal energy.
much as 40% of the region’s energy needs can be supplied by geothermal energy stored deep in the earth. echXplore.com recently published a press release detailing the results of the study, commissioned by the Bavarian Ministry of Economic Affairs, Regional Development and Energy, and executed by Geothermal-Alliance Bavaria, a local research association. researchers indicate high levels of geothermal energy stored up to 5km below the earth’s surface in southern Bavaria.
Indonesia is opening doors for low-risk geothermal project bids
he estimated 23.7GW of geothermal energy potential across 300+ sites spanning the country. eported in early December that a verified hotspot for geothermal energy on the eastern end of the island chain will soon be open for development bids, with more areas to follow.
Calgary-based lithium extraction company closes multi-million dollar funding round, highlighting Alberta’s next-generation energy industry
Summit Nanotech, an Albertan green tech organization founded in 2018 made headlines in the Calgary Herald recently after closing a second round of investment funding totaling $67 million. Chris Varcoe, a columnist covering all things Canadian energy for the Calgary Herald reported on the win for Summit Nanotech the same day the company announcement was made and interviewed CEO and founder Amanda Hall for the column.
International Geothermal Conference in Taiwan highlights next-generation green energy efforts
The country of Taiwan recently hosted its first international conference on geothermal energy. On Monday, January 9, 400 virtual and in-person visitors attended the conference in Taipei City, aimed at highlighting the nation’s geothermal advancements in light of the global energy transition. Taiwan’s Ministry of Economic Affairs financed the event and the Taiwan Geothermal Association coordinated a full day of speeches and presentations from local and international organizations. One such presentation came from the Taiwanese government and detailed the federal incentive programs for geothermal development, regulatory amendments such as simplifying permit acquisition processes, and unveiled 10 geothermal hot spots around the island with potential for resource development.
Eavor and Deep Energy Capital bring next-generation geothermal to the forefront of renewable energy
A recent article from energy news leader OilPrice.com details new developments in the geothermal energy industry and stresses the need for deployable and scalable solutions in the near future. Energy and finance freelancer Felicity Bradstock is well-versed in the news and developments surrounding traditional and green energy industries. Her article from early December emphasizes the demand for clean energy from environmental agencies and governments across the globe, and cites geothermal as a sector brimming with potential.
