Geothermal energy

About Geothermal Energy

Geothermal energy is a 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 have been installed in 30 countries1. While well developed in other countries, the Australian geothermal industry is in infancy, given 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 towards zero carbon emission targets. Compared to other renewable energy solutions, geothermal energy is unique given 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 therefore plays an important role in the future energy transition towards zero carbon emissions, 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.

Earths Energy is an early mover in geothermal exploration in Australia, and has strategically secured and applied for prospective licences with preferred, high grade resource potential near prospective customers, in what is a rapidly growing field in Australia.

January 2021

January 2023

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