Geothermal energy gains momentum in Europe as continent seeks replacement for Russian gas

Amidst the escalating gas prices tied to Russia's invasion of Ukraine, geothermal energy is experiencing a surge in interest across Europe as policymakers and investors seek to reduce their reliance on Russian gas. This once-niche sector is now at the forefront of Europe's energy transition, with Germany leading the way in harnessing the potential of geothermal resources. As the continent grapples with the need for affordable and sustainable alternatives, geothermal energy is emerging as a viable solution.

In the idyllic town of Insheim, nestled in western Germany, a geothermal plant operated by Vulcan Energy is taking advantage of the scorching-hot water that lies three kilometers beneath the surface. According to a report from Politico, Horst Kreuter, co-founder of Vulcan Energy, believes that due to the recent gas price crisis, geothermal energy now has a fighting chance against the historically cheaper Russian gas. The appeal lies in its affordability and independence from external factors.

Geothermal Energy's Expanding Horizon

Geothermal energy currently accounts for a mere fraction of the European Union's heating systems, with only 2 million out of 100 million homes utilizing this renewable source. However, Philippe Dumas, Secretary-General of the European Geothermal Energy Council (EGEC) lobby, envisions a future where geothermal energy supplies a quarter of Europe's energy needs by 2030. To achieve this ambitious target, Germany has unveiled plans to increase its geothermal potential tenfold, aiming for 10 terawatt-hours and the establishment of 100 geothermal projects by 2030.

Germany's policymakers have embraced geothermal energy as a critical part of the country's energy transition. During a visit to a geothermal station, Chancellor Olaf Scholz extolled its virtues, calling it a "future technology in Germany that can work in many places." This endorsement aligns with broader European efforts to move away from fossil fuels and embrace renewable energy sources. Geothermal energy's versatility and potential make it a promising contributor to achieving sustainable energy goals.

Here is what else you need to know

Geothermal energy is derived from the heat stored within the Earth's crust. The Earth's core, composed of molten rock and other materials, maintains a high temperature. This heat is transferred to the Earth's surface through various processes, including radioactive decay and residual heat from the planet's formation. Geothermal power plants use this heat to generate electricity by tapping into underground reservoirs of hot water or steam. The heat is harnessed through geothermal power plants equipped with wells, turbines, and generators.

There are two main types of geothermal systems: dry steam and flash steam. In areas where underground reservoirs contain dry steam, it is directly extracted from the ground and used to drive turbines, generating electricity. Flash steam systems, on the other hand, utilize high-pressure hot water from underground reservoirs. As the water is pumped to the surface, the sudden pressure drop causes it to flash into steam, which is then used to power turbines.

Despite its advantages, geothermal energy faces certain challenges. The initial investment costs for geothermal power plants can be high, requiring substantial upfront capital. Additionally, not all regions have accessible geothermal resources, limiting its widespread adoption.