Sep 5, 2013

Geothermal Energy Heating up Globally

Admin
4 min
The Geothermal Energy Association recently released a new report showing continued strong growth signals in the international mark...

The Geothermal Energy Association recently released a new report showing continued strong growth signals in the international market for geothermal power. The report, “2013 Geothermal Power: International Market Overview,” identifies 70 countries moving forward with nearly 700 geothermal power projects.

“The number of geothermal projects continues to grow as more and more countries recognize the potential economic and environmental benefits that geothermal power can bring,” said Karl Gawell, executive director of GEA.

“There are so many projects moving forward that just a year or two ago were ideas on paper. This demonstrates how quickly the geothermal industry is growing internationally,” said Ben Matek, the report's author.

Some of the report highlights:

· By the end of 2013 the global geothermal market is expected to operate 12,000 MW of geothermal capacity on-line.

· There are 11,766 MW of new capacity in early stages of development or under construction in 70 countries and territories around the world. Additionally, developers are actively engaged with and exploring 27 GW (gigawatts) of geothermal resource globally that could potentially develop into power plants over the next decade.

· This year some of the first demonstration Enhanced Geothermal System (EGS) projects provided electricity to grids in Australia and the United States.

· Counties such as Uganda, France, Tanzania, Chile, and Rwanda have geothermal projects under construction or in the latter stages of development and will have their first operational geothermal power plants within the next few years.

The report also provides profiles on 21 countries and five continents. Highlights include:

· Kenya: Kenya is one of the fastest growing geothermal markets in the world. Kenya’s government is moving a substantial amount of resources into building up its geothermal infrastructure and the support is paying dividends. Right now 296 MW of the over ~1,000 MW of geothermal under development in Kenya are physically under construction. If all projects are completed on time Kenya will lead the world with substantial additions to their geothermal infrastructure over the next decade and become a center of geothermal technology on the African continent.

· Indonesia: Despite the massive potential for geothermal power in Indonesia, local experts and the media report that the country still struggles with regulatory issues obstructing geothermal development. That said, Indonesia has almost 4,100 MW in the pipeline for development and 860 MW physically under construction. Indonesia ranks second for developing projects with 57 projects in some phase of development. While no more plants are expected to come online this year in Indonesia, if all the plants are finished by their publicly announced completion dates, Indonesia could reach almost 2 GW of installed capacity by 2018.

· Costa Rica: Most of Costa Rica’s geothermal resources rest in national parks, leaving substantial regulatory barriers to its development. Despite the location of Costa Rican’s geothermal resource the government plans to introduce legislation that would open the Rincon de la Vieja National Park in Guanacaste for geothermal project development, a controversial proposal to environmentalists. Even so, the country’s top political leaders acknowledge climate change as an issue that will diminish the capabilities of their hydroelectric power plants, which accounts for most of Costa Rica’s energy production.

· Japan: Since the Fukushima Daiichi nuclear disaster in 2012 the Japanese people and the Ministry of Economy, Trade and Industry (METI) are looking for clean and disaster-free alternatives to nuclear energy and are deregulating many previous burdensome barriers to geothermal development. Officials are looking to shorten lead time for development, a significant step to accelerated geothermal development.

“In many developing economies there is a growing middle class driving a demand for affordable electrical capacity. In regions such as East Africa and Central America a lack of carbon based fuel resources lead to reliance on high cost/high CO2 emission imported fuel oil,” said Mike Long, vice president, Galena Advisors. “Geothermal provides a preferred indigenous fuel source for a least cost baseload energy supply, providing the much needed increase in capacity.”

Members of the international geothermal community plan to discuss their successes and emerging market opportunities at the GRC Annual Meeting & GEA Geothermal Energy EXPO in Las Vegas from Sept. 29-Oct. 2.

This is the premier gathering to learn about the latest developments in geothermal energy, and brings together geothermal companies, academics, financiers, policy leaders, students, and other individuals. The GEA EXPO floor features a unique opportunity for leaders in the business to showcase their projects, equipment, services and state of the art technology to the geothermal community.

 “The international markets are continuing to see robust growth and expansion. Established and emerging international markets including Africa, Turkey, Latin America, Indonesia, and the Philippines present a tremendous opportunity for the United States to export renewable technology, professional expertise, capital finance, and geothermal support services to the needs of this global industry,” said Steve Hummel, director of Renewable Energy, TAS Energy. 

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Jul 29, 2021

Carbon dioxide removal revenues worth £2bn a year by 2030

Energy
technology
CCUS
Netzero
Dominic Ellis
4 min
Engineered greenhouse gas removals will become "a major new infrastructure sector" in the coming decades says the UK's National Infrastructure Commission

Carbon dioxide removal revenues could reach £2bn a year by 2030 in the UK with costs per megatonne totalling up to £400 million, according to the National Infrastructure Commission

Engineered greenhouse gas removals will become "a major new infrastructure sector" in the coming decades - although costs are uncertain given removal technologies are in their infancy - and revenues could match that of the UK’s water sector by 2050. The Commission’s analysis suggests engineered removals technologies need to have capacity to remove five to ten megatonnes of carbon dioxide no later than 2030, and between 40 and 100 megatonnes by 2050.

The Commission states technologies fit into two categories: extracting carbon dioxide directly out of the air; and bioenergy with carbon capture technology – processing biomass to recapture carbon dioxide absorbed as the fuel grew. In both cases, the captured CO2 is then stored permanently out of the atmosphere, typically under the seabed.

The report sets out how the engineered removal and storage of carbon dioxide offers the most realistic way to mitigate the final slice of emissions expected to remain by the 2040s from sources that don’t currently have a decarbonisation solution, like aviation and agriculture. 

It stresses that the potential of these technologies is “not an excuse to delay necessary action elsewhere” and cannot replace efforts to reduce emissions from sectors like road transport or power, where removals would be a more expensive alternative.  

The critical role these technologies will play in meeting climate targets means government must rapidly kick start the sector so that it becomes viable by the 2030s, according to the report, which was commissioned by government in November 2020. 

Early movement by the UK to develop the expertise and capacity in greenhouse gas removal technologies could create a comparative advantage, with the prospect of other countries needing to procure the knowledge and skills the UK develops.

The Commission recommends that government should support the development of this new sector in the short term with policies that drive delivery of these technologies and create demand through obligations on polluting industries, which will over time enable a competitive market to develop. Robust independent regulation must also be put in place from the start to help build public and investor confidence.

While the burden of these costs could be shared by different parts of industries required to pay for removals or in part shared with government, the report acknowledges that, over the longer term, the aim should be to have polluting sectors pay for removals they need to reach carbon targets.

Polluting industries are likely to pass a proportion of the costs onto consumers. While those with bigger household expenditures will pay more than those on lower incomes, the report underlines that government will need to identify ways of protecting vulnerable consumers and to decide where in relevant industry supply chains the costs should fall.

Chair of the National Infrastructure Commission, Sir John Armitt, said taking steps to clean our air is something we’re going to have to get used to, just as we already manage our wastewater and household refuse. 

"While engineered removals will not be everyone’s favourite device in the toolkit, they are there for the hardest jobs. And in the overall project of mitigating our impact on the planet for the sake of generations to come, we need every tool we can find," he said.

“But to get close to having the sector operating where and when we need it to, the government needs to get ahead of the game now. The adaptive approach to market building we recommend will create the best environment for emerging technologies to develop quickly and show their worth, avoiding the need for government to pick winners. We know from the dramatic fall in the cost of renewables that this approach works and we must apply the lessons learned to this novel, but necessary, technology.” 

The Intergovernmental Panel on Climate Change and International Energy Agency estimate a global capacity for engineered removals of 2,000 to 16,000 megatonnes of carbon dioxide each year by 2050 will be needed in order to meet global reduction targets. 

Yesterday Summit Carbon Solutions received "a strategic investment" from John Deere to advance a major CCUS project (click here). The project will accelerate decarbonisation efforts across the agriculture industry by enabling the production of low carbon ethanol, resulting in the production of more sustainable food, feed, and fuel. Summit Carbon Solutions has partnered with 31 biorefineries across the Midwest United States to capture and permanently sequester their CO2 emissions.  

Cory Reed, President, Agriculture & Turf Division of John Deere, said: "Carbon neutral ethanol would have a positive impact on the environment and bolster the long-term sustainability of the agriculture industry. The work Summit Carbon Solutions is doing will be critical in delivering on these goals."

McKinsey highlights a number of CCUS methods which can drive CO2 to net zero:

  • Today’s leader: Enhanced oil recovery Among CO2 uses by industry, enhanced oil recovery leads the field. It accounts for around 90 percent of all CO2 usage today
  • Cementing in CO2 for the ages New processes could lock up CO2 permanently in concrete, “storing” CO2 in buildings, sidewalks, or anywhere else concrete is used
  • Carbon neutral fuel for jets Technically, CO2 could be used to create virtually any type of fuel. Through a chemical reaction, CO2 captured from industry can be combined with hydrogen to create synthetic gasoline, jet fuel, and diesel
  • Capturing CO2 from ambient air - anywhere Direct air capture (DAC) could push CO2 emissions into negative territory in a big way
  • The biomass-energy cycle: CO2 neutral or even negative Bioenergy with carbon capture and storage relies on nature to remove CO2 from the atmosphere for use elsewhere

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