The Geothermal Energy Revolution
Geothermal energy is abundant in many parts of the world. Currently, geothermal energy has a strong capacity to provide significant amounts of renewable clean energy worldwide, while supplying around 11,000 MW, enough to meet the needs of 60 million people. Realizing the growth potential of geothermal energy, U.S. Department of Energy has granted $70 million in funding for technology advancements in the geothermal sector.
What is Geothermal Energy?
Geothermal energy EAL Reviews is generated from the earth’s heat. Fundamentally, geothermal energy originates from volcanic activity when molten magma goes close to the surface and heats groundwater that seeps downwards through fractured rock surfaces and faults. The heated water is extracted by drilling wells into a reservoir where steam is generated. The steam drives turbines that produce electricity. The waste steam from the electricity generation process is condensed and reinjected back into the reservoir in order to begin a new cycle of energy production. In this way, no greenhouse emissions are released into the atmosphere. Geothermal energy is considered as a renewable resource because Earth’s interior heat, which is estimated to be 8,000 degrees Fahrenheit, is limitless. Geothermal plants are usually in areas with either earthquake or volcanic activity. The highest global geothermal activity is concentrated in the Pacific Ocean area. The geographic limitations are the main reason why geothermal energy has not yet established itself as a major energy source. Major players in the geothermal energy sectors are the United States, Philippines, Australia, Canada and Iceland.
Geothermal Energy’s Future
Renewable energy has a great potential to move the world toward a green and more sustainable energy system and will help reduce the dependence on imported fuels. Investment opportunities in the geothermal energy have arisen significantly in the past couple of years. There are several countries that have realized the huge potential hidden in the geothermal energy and are doing everything to exploit this unexhausted source of clean energy. For example, Iceland is a country that sits on a volcanic base and is 95 percent powered from alternative energy sources from which 27 percent is geothermal. Furthermore, Iceland is planning to export the green energy to European market. Central America is also a huge geothermal energy area. Guatemala’s and Salvador’s geothermal energy sources provide significant amount of their national energy requirements. Both countries aim to double geothermal production over the next five years. Even companies like Google have undertaken a thorough research and exploration in the renewable energy sector because of the bright potential for energy production.
Geothermal energy is one of the most reliable and environmental friendly sources of renewable energy that is touted as a significant investment opportunity. The price of electricity generated by geothermal clean energy is highly competitive with other forms of power production, which makes geothermal technology advancements very attractive to prospective investors. For additional information on this and related topics, check out the free report on The Top Alternative Energy Stocks by Elliott Gue.