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Geothermal Energy Generation: Technology Penetration and Roadmapping (Technical Insights)
Frost & Sullivan, March 2011, Pages: 64
This Frost & Sullivan research service titled Geothermal Energy Generation: Technology Penetration and Roadmapping provides a snapshot of the latest technology development and analysis of emerging geothermal generation technology adaptation factors and trends. In this research, Frost & Sullivan's expert analysts thoroughly examine the following technologies: renewable energy, drilling, and power generation.
Technology Overview
New Technologies Steer the Geothermal Energy Market toward a High Growth Trajectory
High Costs and Risk Factor Rein in Market Progression
Unlike other intermittent renewable energy sources such as wind, solar, or wave, geothermal plants can deliver base load to the electric energy system and can successfully replace coal-fired or nuclear power plants. Geothermal energy is one of the cleanest technologies available and can generate electricity with very little or no greenhouse gas emissions. Geothermal power is mostly generated from hydrothermal reservoirs that are found in depths of 2-3 km. However, such reservoirs do not appear everywhere and are limited mostly to the volcanically active areas. “The geothermal market is poised for big expansion in the near/medium future,” notes the analyst of this research service. “Researchers from this sector are developing new technologies that can be used in new geothermal reservoirs, such as engineered geothermal systems (EGS) also called hot dry rock (HDR) systems that enable electricity generation from geothermal energy almost anywhere in the world.”
Major problems faced by the geothermal industry are high initial cost and the risks involved in developing geothermal projects. Drilling of the geothermal well itself amounts to a major portion of the cost of the entire geothermal project. Besides, it is also a time-consuming process. The permitting processes represent 11 percent of total geothermal project development cost before drilling of the first well starts. The next step is drilling, which usually represents 30 percent of total costs. Single wells can reach figures as high as EUR 5,000,000; at least two wells are always necessary. Expenditure on all these activities as well as the final power plant construction will incur very high costs. Accurate exploration of geothermal reservoirs and gathering of information on the reservoir properties are vital before drilling is commenced. The best way to rate the geothermal reservoir is to drill a well to reach geothermal resources and check its properties. As drilling of deep geothermal wells is an expensive proposition, most developers will not drill their first borehole before there is some degree of certainty that geothermal resources with specific flow rate will be found at a specific depth. Hence, geothermal resource exploration methods are very important in developing such projects. Other factors inhibiting the growth of the geothermal market are limited access to the drilling rigs and the lack of experienced specialists for developing new technologies, allowing for utilization geothermal energy from systems such as EGS.
Reducing costs as well as drilling time is vital for further development of EGS systems. Hydrothermal spallation appears as a promising drilling technology that could fulfill the above-mentioned requirements. It involves contactless drilling, thus eliminating bit wear occurring in conventional drilling techniques and increases equipment reliability. More research and field test activities as well as scaling up of existing demonstration projects are necessary to ensure that the market picks up momentum. Investors and developers from the geothermal sector should focus on improving existing technologies and developing new ones for deep drilling and exploration of geothermal reservoirs. “Novel solutions in these two sectors will be crucial for expansion of the geothermal energy market in the future,” says the analyst. “Novel technologies for deep drilling in hard rock environment will also find application in the oil and gas industry, especially directional drilling will be important from unconventional shell gas extraction point of view.”
Technologies
The following technologies are covered in this research:
- Renewable energy
- Drilling
- Power generation
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