Green by Iceland reposted this
From good to great geothermal potential in the U.S. Here are some on the signals and takeaways gained through U.S Secretary of Energy Jennifer Granholm, Deputy Secretary David Turk and Principal Assistant Director for Industrial Innovation at the Whitehouse Ishan K. Sharma key notes at COP29 Azerbaijan The United States is well positioned to take geothermal to the next level as next generation of geothermal has arrived a decade ahead of time and could disrupt the market substantially. Geothermal also creates green jobs for the future. Conventional geothermal forecasts 40 GW available (10x what’s currently in deployed). Next generation forecasts Advanced & supercritical, geothermal could unlock 5,500 GW—over 4x the U.S. grid’s current capacity. Overall projections for geothermal by 2050 have recently surged from 2019: 60 GW to March 2024: 90–300 GW to September 2024. A recently published Roadmap to Next Generation of Geothermal by DOE shows how advanced geothermal technology could increase the U.S geothermal energy production to 90 gigawatts or more by 2050, a twentyfold increase. A total of over 28 million heat pumps and 17.000 central district heating systems! Affordability Industry advances and initiatives such as the DOE‘s FORGE has cut down costs. Stanford now estimating next-gen geothermal’ s levelized cost at ~$45 per MWh in 11 states and $60-$70 nationwide meaning that next generation of geothermal could well beat the costs of other renewable energy alternatives. Speed With the expertise and knowledge of the oil and gas industry U.S is well positioned to take geothermal to the next level by leveraging these into the geothermal sector which will help speed up deployment and accelerate the green transition. Deployment Since the first 3.5 MW launched in Nov 2023, contracts for over 600 MW have been signed. What do you know about geothermal? Geothermal does not only come with multiple benefits such as being a 24/7 reliable, abundant, low environmental footprint resource it can also be used in many ways for #heatingandcooling, #electricity generation and #cascading uses: #greenhousegrowing, #aquaculture, varying #industrialprocesses and more. Iceland is a blueprint of #renewableenergy success with #geothermal contributing to over 60% of Iceland's #primary energy uses. Geothermal lays the foundation to our society of well-being, health, green jobs and export sectors. Sources: https://lnkd.in/ebmrSA-h : https://lnkd.in/e4iHhicg : https://lnkd.in/eTHqsjW5 : https://lnkd.in/eyS8vDyA : https://lnkd.in/e9BD5RaM #leadership #usa #iceland Follow us on Green by Iceland
