The Anonymous Widower

Why Canada’s Geothermal Industry Is finally Gaining Ground

The title of this post, is the same as that of this article on the Narwhal.

When I think of Canada, I don’t think hot rocks and volcanoes.

But read the article and this Wikipedia article, which is entitled Geothermal Power In Canada, that adds more flesh.

This is an interesting paragraph.

At present, Canada remains the only major country in the Pacific Rim that is not producing electricity from its geothermal resources. This is despite the fact that the colder it is outside, the more electricity a geothermal power plant can produce. This is because the larger the temperature differentials between the geothermal resource and the ambient air temperature, the more efficiently geothermal plants operate. This makes geothermal power ideal for cold northern countries.

Iceland is certainly blessed, with mountains, volcanoes, hot rocks and cooler weather.

In 2016, sixty-five per cent of Iceland’s electricity and space heating was from geothermal sources.

I took the pictures on a summer holiday In July.

It looks like if the articles on the Narwhal and Wikipedia are to be believed, Canada could exploit a lot of geothermal energy resources.

Canada though will have the advantages of not being first.

The technology has already developed in countries like Iceland, the United States and the Philippines.

A lot of the skills needed is available in Canada’s oil industry.

We’re even seeing oilfield services companies like Schlumberger moving into geothermal energy. I wrote about that in Schlumberger New Energy And Thermal Energy Partners Form Geothermal Development Company STEP Energy.

We shouldn’t forget the potential for geothermal energy in the UK. We’re looking seriously in Cornwall and already extracting heat from the Underground in Islington, using similar techniques.

See Drilling Starts For ‘Hot Rocks’ Power In Cornwall and Bunhill 2 Energy Centre.

Conclusion

Geothermal energy would appear to have a high capital cost, but should return a fixed income year-on-year.

For this reason, I believe that funding for viable geothermal schemes, will be easier to obtain, as we improve the engineering and the returns increase.

So expect more geothermal schemes in the future.

 

September 16, 2020 - Posted by | Energy | , , , ,

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