Technology

#Geothermal energy could be Europe’s answer to natural gas

“Geothermal energy could be Europe’s answer to natural gas”

The invasion of Ukraine has led European leaders to reconsider their dependence on Russian natural gas for electricity and heating. While other countries are working hard to offer alternatives like Liquid Natural Gas (LNG), this still leaves the continent dependent on foreign supply.

Luckily, literally everyone on Earth is standing right on top of a virtually limitless energy source; geothermal energy. Recently, an American startup called Quaise made headlines with their plan to drill super deep holes to access the Earth’s heat – which is very cool and spectacular, but also mostly science fiction at the moment.

Other innovative startups and companies in Europe and elsewhere are developing opportunities to use the molten core of the Earth to supply power and heating. Could this be the answer to Europe’s energy woes and a path towards energy sovereignty? And how long would this transition take?

Endless potential

The opportunity, in terms of value for the planet and financially, seem pretty much endless. In theory, geothermal energy can be tapped anywhere on Earth, and according to ARPA-E, using just 0.1% of the Earth’s energy we can provide all human power needs for 20 million years. It’s reliable, 100% renewable, generates no greenhouse gasses, doesn’t require massive amounts of rare earth metals, and is always on, unlike solar or wind.

And there’s more! Since most of the action happens underground, geothermal energy has a minimal footprint above ground versus wind or solar energy. Even though some forms require drilling down deep and pumping in fluids, there’s very little chance for seismic effects. And best of all, once a system is running, it can pretty much just keep going forever.

And as a little added bonus; drilling down into this energy bonanza could give the fossil fuel industry a nice opportunity to put its expertise to work to redeem its enormous harm to the planet.

So why aren’t we all massively hooked up to deep earth energy juice?

To answer that question, TNW spoke to a number of experts in the field of geothermal energy from the Dutch TNO Institute, who explained the techniques and potential. Now, let’s first understand a little bit about different kinds of geothermal energy systems.

The ABCs of geothermal energies

Traditional geothermal energy is the kind you probably remember from high school. It relies on harvesting heat energy from sources that are close to the surface, due to being on tectonic intersections. This type of geothermal energy is available in a very limited number of areas of high volcanic activity, like Iceland, New Zealand, Hawaii, and Indonesia.

Basically, it uses high-temperature sources to transport energy for heating purposes, or for creating steam to drive turbines that generate electricity.

The second kind has been long in the making, and is showing more and more potential as the field develops new techniques. Experts call it an Enhanced Geothermal System or EGS.