What are the most effective ways to scale up geothermal energy extraction globally?

1 Cost reduction

One of the main obstacles to geothermal energy extraction is the high upfront cost of exploration, drilling, and infrastructure development. To reduce the cost, some strategies include improving the efficiency and accuracy of geothermal resource assessment, using advanced drilling techniques and materials, and sharing the risk and cost among multiple stakeholders. For example, some countries have established public-private partnerships, geothermal funds, or risk mitigation mechanisms to support geothermal projects.

2 Technology innovation

Another way to scale up geothermal energy extraction is to innovate and adopt new technologies that can enhance the performance and sustainability of geothermal systems. For instance, some technologies include artificial intelligence and machine learning, which can optimize the operation and maintenance of geothermal plants, or low-temperature geothermal systems, which can utilize lower-quality heat sources and expand the geographical range of geothermal applications. Moreover, some emerging technologies such as supercritical geothermal systems, which can access extremely high temperatures and pressures, or hybrid geothermal systems, which can integrate with other renewable energy sources, could offer new opportunities for geothermal energy extraction.

3 Policy support

A third way to scale up geothermal energy extraction is to have supportive policies and regulations that can create a favorable environment for geothermal development. Some policy measures include setting clear and ambitious targets for geothermal energy deployment, providing incentives and subsidies for geothermal projects, streamlining the permitting and licensing processes, and ensuring the protection of the environment and the rights of the local communities. Additionally, some policies could foster regional and international cooperation and knowledge exchange among geothermal stakeholders, such as governments, developers, researchers, and civil society.

4 Public awareness

A fourth way to scale up geothermal energy extraction is to raise public awareness and acceptance of geothermal energy as a clean and beneficial source of energy. Some actions include educating the public about the advantages and challenges of geothermal energy, engaging with the local communities and addressing their concerns and expectations, and showcasing the best practices and success stories of geothermal projects. Furthermore, some actions could promote the social and economic benefits of geothermal energy, such as job creation, rural development, climate resilience, and energy security.

5 Market expansion

A fifth way to scale up geothermal energy extraction is to expand the market and demand for geothermal energy in various sectors and regions. Some strategies include diversifying the uses and applications of geothermal energy, such as heating and cooling, industrial processes, agriculture, and tourism, and developing new business models and services that can increase the value and competitiveness of geothermal energy. Also, some strategies could increase the access and integration of geothermal energy in the power grids and energy systems, such as enhancing the flexibility and reliability of geothermal plants, and facilitating the cross-border trade and transmission of geothermal electricity.

6 Research and development

A sixth way to scale up geothermal energy extraction is to invest in research and development that can advance the scientific and technical knowledge and capabilities of geothermal energy. Some areas of research include improving the understanding of the geothermal resources and their characteristics, developing new methods and tools for geothermal exploration and monitoring, and testing and validating new technologies and solutions for geothermal energy extraction. Moreover, some areas of research could address the environmental and social impacts and risks of geothermal energy, such as greenhouse gas emissions, water consumption, land use, and seismicity.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?