Sustt: Geothermal heating, water woes, misplaced funds, pig beans
Eden Project opens deep geothermal heating well setting UK precedent
By Dillon Creedon
What's happening??The UK's first deep geothermal plant in 36 years has been inaugurated at the Eden Project in Cornwall. The geothermal well, extending 5 km underground, is supplying heat to the tourist site's attractions. Despite having significant geothermal resources, the UK has been slower than other European countries in harnessing geothermal energy. The completion of this project is expected to inspire further geothermal initiatives across the country. The well is projected to reduce the Eden Project's heating costs by 40% and enable year-round food production on-site. The hope is that larger industrial and institutional sites will follow suit, encouraged by the success of this project. (New Scientist)
Why does this matter??The presence of renewables in the UK's energy mix continues to grow. In 2022, half of the UK's energy mix was?supplied?by zero-carbon power for five months. Solar and wind power dominate and are seen as the future foundation of the UK's electricity generation system. However, to prevent outages, it is important to identify and mitigate possible limitations. For example, without?significant?battery storage capabilities, solar and wind provide intermittent and inconsistent power supply. Geothermal energy presents itself as a potential solution to mitigate this, complementing and stabilising the renewable power grid.
Location-specific and expensive –?Geothermal electricity generation is currently limited to a few locations and is expensive. Typically, in naturally occurring geothermal systems, hot water and steam is extracted from underground to heat homes and businesses or generate electricity. The technology has been?deployed?since 1904 but is limited to specific areas – for a natural system to be viable, it must possess heat, water and permeability.
Enhanced geothermal systems –?New technologies are emerging that could make geothermal energy more widespread and financially viable, such as the advancement of?enhanced geothermal systems?(EGS). Here, in areas where permeability may be low, a borehole is drilled roughly 1.6 miles, and water is pumped underground. The process increases permeability by opening fissures and cracks in the rock. Once the water permeates through the warm rocks it is then collected by a second borehole, drilled to a depth of around 2.8 miles.
UK potential –?In the UK, geothermal hotspots coincide with some of the?poorest areas?that the government has identified in its "levelling up"?strategy. However, there are?currently?only two active projects in the UK, falling behind much of Europe – around 250,000 homes in Paris are heated by geothermal power, while in Germany, €1bn ($1.1bn) has been?committed?to 100 projects set to be completed before 2035. The US government are also heavily incentivising geothermal power. By 2035, research and development is?expected?to drive down the cost of EGS in the US by 90%, powering 40 million homes by 2050.
UK energy transition –?More broadly, a recent?report?authored by former government economist Chris Walker for the UK Business Council for Sustainable Development suggests that the UK could generate ￡70bn ($88.9bn) annually and become a clean energy exporter to Europe by increasing clean electricity generation by 50% above current projections for 2050. This would create an additional 279,000 jobs and support a total of 654,000 jobs in the UK's clean energy industries. However, the government needs to address barriers hindering green energy ambitions, such as grid connectivity and storage capacity, in order to seize this economic opportunity.
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Stat of the week
The UK government and industry watchdog, Ofwat, are developing contingency plans for the potential collapse of Thames Water, the largest water company in the country, due to its massive debt burden. Discussions are underway regarding placing Thames Water under a special administration regime (SAR) for temporary public ownership. The company has struggled with a ￡14 billion debt, while its leakage rate is at a five-year high. Thames Water has received ￡500 million in funding from shareholders and maintains a strong liquidity position with ￡4.4 billion in cash and committed funding. The government is closely monitoring the situation and preparing for various scenarios. (Guardian)?
Bite-sized Insights
What else we're seeing this week ??
The world's lakes losing water –?Over 50% of the world’s largest lakes are losing water as a result of climate change and unsustainable human consumption, according to a study by international researchers. The researchers used satellite data to track changes in water levels in nearly 2,000 of the planet's largest lakes. They found that global freshwater lakes and reservoirs contain 87% of Earth's freshwater, and are vital to both human and ecosystem health. The scientists state that, although the outlook is bleak, the data can at least provide water managers and communities with information on how to protect water sources and ecosystems. (Science Daily)
Misplaced funds –??Some of the world's top multilateral development banks (MDBs) that have agreed to channel their funding to firms that promise to cut greenhouse gas (GHG) emissions are supporting large, GHG-intensive livestock and grain businesses, according to a report from the Stop Financing Factory Farming (S3F) campaign. The analysis found that $4.6bn was invested in big companies such as Danone, Louis Dreyfus and Smithfield between 2010 and 2021. IDB Invest, an Inter-American Development Bank arm and the International Finance Corporation (IFC), the World Bank's private finance arm, were among the banks mentioned in the report, which provided $2.6bn to large meat and dairy producers between them. (Inside Climate News)
Pig protein soybeans –?UK-based company Moolec has developed genetically modified soya plants, known as "Piggy Sooy," which produce beans containing 25% pig protein. Moolec is also working on creating pea plants that contain beef proteins. The company aims to create meat substitutes with similar taste, texture, and nutritional value as meat, but at a lower cost than cultured meat. The specific pig genes added to the soya beans have not been disclosed for intellectual property reasons. Photos of Piggy Sooy beans suggest the addition of genes coding for proteins like myoglobin, which gives red meat its colour and flavour. (New Scientist)?
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