| Abstract |
The use of geothermal steam for the production of electricity has a long track-record, with the first experimental installation built in Larderello, Italy, in 1904. In the last 30 years, 12 GW of geothermal power capacity has been built around the world with the annual installed capacity growing at 4-5% per year. Many countries are coming to appreciate geothermal energy’s value as a dependable renewable energy source. Optimizing Geothermal Energy: CloZEd Loop Energy AG (CLEAG) seeks to commercialize a new variant of geothermal energy with technology that fully utilizes the energy potential of hot brines. In contrast to conventional geothermal power plants our hybrid system uses two sources for its energy production: hot water as well as the combustible gases dissolved in it. The gases are separated from the water and burned in a gas engine. The CO2 from combustion, as well as any brought up with the hot water, is captured at a rate of 98% and safely re-injected into the aquifer, where it stays. The result: remarkably cost-effective, renewable, and near zero-carbon energy. Our technology is cleaner than that of many current geothermal plants, which vent all aquifer gas to the atmosphere. Geothermal power has an important role to play in the energy systems of many countries, as the exploitable potential lies far above its current utilization. The World Bank has estimated that nearly 40 countries possess a geothermal resource large enough to meet their entire electricity demand of which, we estimate the majority also have high natural gas content. With our technology, countries can decrease their energy import dependence and attract industries seeking inexpensive heat and electricity. |