The Climate Question Why don’t we use more geothermal energy?
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Oct 7, 2024 This week, Christian Freytag, from Vulcan Energy Resources, and Moroccan geologist Amal Barish, share insights on geothermal energy's untapped potential. They discuss innovative projects that combine geothermal power with lithium extraction, highlighting the challenges and profitability of this renewable source. Amal reveals plans to drill into volcanic magma in Iceland, which could revolutionize geothermal energy. The conversation also touches on community concerns in Indonesia regarding local geothermal initiatives, emphasizing the need for sustainable practices.
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Geothermal's Untapped Potential
- Geothermal energy is abundant, reliable, and doesn't harm the climate, unlike intermittent renewable sources.
- Despite its vast potential, geothermal currently generates less than 1% of the world's energy.
Lithium Extraction: A Geothermal Game Changer
- Vulcan Energy Resources in Germany extracts lithium from geothermal waters, generating most of its revenue (80-90%) from lithium sales.
- This approach makes geothermal more profitable and attractive to investors, offsetting high upfront drilling costs.
Supercharging Geothermal with Magma
- Conventional power plants reach 450°C, but regular geothermal only hits 250°C, limiting electricity generation.
- Some researchers aim to "supercharge" geothermal by extracting energy directly from magma, achieving higher temperatures.