Good morning with good news: Next Generation Geothermal is on track to cost $50-$120/MWh by 2035 reports IEA.
Geothermal may generate 6000 TWh (800 GW), equal to electricity demand today in US & India combined, by 2050.
Geothermal capacity factor is >75%.
#energysky
https://www.iea.org/reports/the-future-of-geothermal-energy
Geothermal may generate 6000 TWh (800 GW), equal to electricity demand today in US & India combined, by 2050.
Geothermal capacity factor is >75%.
#energysky
https://www.iea.org/reports/the-future-of-geothermal-energy
Comments
1) a realistic price by then, and
2) too expensive compared to solar and battery storage
But we’ll see if trends hold and geothermal really gets down there.
Geothermal supplies less than 0.5% of global electricity today.
But geothermal innovation means it could supply 4% to 8% of global electricity by 2040-2050. That matters!