Geothermal energy
About Geothermal Energy
Geothermal energy is a form of renewable energy from the natural source of heat contained within the earth. It can be extracted for uses including heating, drying and electrical generation. Geothermal has become established as a reliable and environmentally benign source of power.
The geothermal energy industry has been active globally for over 100 years and geothermal power plants installed in 30 countries1. While well developed in other countries, the Australian geothermal industry is in its infancy, due primarily to Australia’s historic abundance, and acceptance of fossil fuels.
Geothermal energy has seen a strong increase in demand over the past decade as the world moves reduce carbon emission. Compared to other renewable energy solutions, geothermal energy is unique in that it provides a base-load alternative that produces energy 24/7, which is the major challenge for alternative renewable energy solutions, such as solar and wind. Geothermal energy can therefore play an important role in the transition towards low carbon emissions energy, given its ability to provide network security and reliability.
Geothermal energy is estimated to contribute more than 8% of the world’s electricity generation capacity. As of January 2023, global geothermal power generation capacity stood at 16,127 Mwe, with 154 MWe capacity installed during 2022.
Earth’s Energy has strategically secured, and applied for, prospective geothermal licences.
January 2021
January 2023
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