A renewable energy source, geothermal energy is derived from heat within the sub-surface of the earth, which is carried to the surface via water or steam.
Depending on its characteristics, geothermal energy can be used for heating and cooling purposes.
If a large amount of heat can be extracted, this can be harnessed to generate clean electricity.
According to the International Renewable Energy Agency (IRENA), geothermal energy covers a significant share of electricity demand in countries such as New Zealand, Kenya and the Philippines.
While installed capacity has increased over the years, challenges in deploying geothermal energy such as geographical limitations as well as higher per-unit capital costs remain.
As a result, geothermal energy today accounts for less than 1 per cent of globally installed renewable energy capacity.
Data from IRENA shows that geothermal energy made up just 0.52 per cent of total renewable energy capacity in 2021.
In comparison, hydropower and solar energy accounted for 40.1 per cent and 27.7 per cent of global installed renewable energy capacity respectively last year.
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Depending on its characteristics, geothermal energy can be used for heating and cooling purposes.
If a large amount of heat can be extracted, this can be harnessed to generate clean electricity.
According to the International Renewable Energy Agency (IRENA), geothermal energy covers a significant share of electricity demand in countries such as New Zealand, Kenya and the Philippines.
While installed capacity has increased over the years, challenges in deploying geothermal energy such as geographical limitations as well as higher per-unit capital costs remain.
As a result, geothermal energy today accounts for less than 1 per cent of globally installed renewable energy capacity.
Data from IRENA shows that geothermal energy made up just 0.52 per cent of total renewable energy capacity in 2021.
In comparison, hydropower and solar energy accounted for 40.1 per cent and 27.7 per cent of global installed renewable energy capacity respectively last year.
Continue reading...