Shale drilling strategies may result in a geothermal surge, IEA says

By Forrest Crellin

PARIS (Reuters) – The shale drilling strategies that led to a growth in oil and gasoline output have additionally spurred the event of geothermal, which in idea may present a steady supply of energy equal to the demand of India and america mixed, the IEA stated on Friday.

Talking after publication of the Paris-based company’s first report on geothermal power, Worldwide Power Administration (IEA) Govt Director Fatih Birol stated the supply was suited to offering the huge quantities of steady power information centres require.

“The brand new construction of geothermal is similar to the oil and gasoline revolution. We see that the brand new applied sciences are unlocking the worldwide potential with the so-called horizontal drilling and hydrofracking as utilized in shale,” Birol stated.

“One of many drivers of this urge for food for geothermal power is the necessity for electrical energy for information centres. If you have a look at america, there’s a massive push for information centres, which need 24/7 electrical energy, making geothermal an excellent match.”

In contrast to renewable provides from wind and photo voltaic, geothermal power generally is a fixed energy supply, however it’s in its infancy and the IEA and Birol stated it wanted authorities backing and main funding.

The shale drilling strategies in query have additionally attracted opposition from environmental campaigners within the context of the oil and gasoline business due to issues over water air pollution and earthquakes.

Three quarters of geothermal’s international potential is concentrated first in america, then China after which India, Birol instructed Reuters.

The incoming Trump administration has stated it’ll push for extra oil and gasoline drilling and desires to cut back inexperienced energy initiatives, however Birol stated he noticed no cause why that ought to exclude elevated geothermal use.

Geothermal heating may rise to as a lot as 800 gigawatts (GW) globally, or 15% of world demand development by 2050, with an annual output equal to the mixed present demand for the U.S. and India, IEA information confirmed.

World investments would wish to exceed $1 trillion (951.11 billion euros) by 2035 and $2.8 trillion by 2050, with about 75% wanted to be invested in electrical energy producing services, the IEA report stated.

(1 euro = $1.0514)