JPT
Summary
Hot rock is found worldwide, but the methods used to generate energy from it vary.
In the US, the big early developments are aimed at generating electricity for the grid and storing energy in developments where wells are fractured.
In Germany, the big target is providing hot water to district heating systems that deliver it to a wide range of customers in urban areas. New technology there must avoid fracturing. In Germany, they are testing a new geothermal method that harvests heat in deep well loops using a fluid that brings energy to the surface with minimal pumping.
While US companies are selling electrons, geothermal producers in Europe are more focused on selling hot water for delivery by district heating systems which now rely heavily on gas for heating.
“Heating is not a big product in the US, but it is big in Europe,” said Stephan Hannke, business development geothermal department at Austrian energy company OMV. During the OTC panel he explained why the integrated oil company wants to shift from importing gas to producing geothermal energy.
It would supply heated water to city utilities in Austria, and other European countries, which are required to create plans to meet government mandates to phase out fossil fuel use by 2050. In Austria, he said this could include tripling the size of the district heating system.
OMV sees geothermal energy as a potential replacement for the natural gas currently used in district heating, which accounts for more than 60% of household heating fuel in Austria, he said.
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