December 13, 2019 (Investorideas.com Newswire) The UK's geothermal potential has been known for decades. While high cost and fears over its connection to seismic activity have historically made investors wary, a new push for the resource is on the horizon.
GlobalData's power technology writer Scarlett Evans says: "BGS researchers joined geologists from across the country in a report published in Petroleum Geoscience, which urges energy providers to turn their focus to this untapped resource, labelling geothermal energy, carbon capture and storage, and bioenergy with carbon capture and storage as ‘critical' to moving the UK towards its target.
"Previous geothermal projects have failed to get off the ground due to financial issues, yet reasons to pursue the resource remain as strong as ever. Dependent on a more consistent source than that of solar or wind, geothermal plants operate more than 90% of the time and use far less land per MW than other renewables. As the BGS report says, with 99.9% of the planet at a temperature greater than 100°C, geothermal is a renewable resource with great potential."
Dr Jon Busby, a Geothermal Specialist at the BGS, says: "The UK has lived through an era of cheap gas, used extensively for heating. This originally came from the North Sea, but with the depletion of this energy source and the requirement to decarbonise, there is an urgent need to replace natural gas.
"Geothermal energy for heating can play a major role, sourced either from deep sedimentary aquifers where the water is hot enough to be used directly for heating, or from shallow ground source heat pumps.
"Geothermal power is unlikely to ever generate more than a few percent of the UK's requirements, but it can contribute to local, sustainable green energy solutions."
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