The Engineer Jobs
Summary
For millennia, humans have tapped into Earth’s internal energy, harnessing hot springs for public baths and underfloor heating, and even powering district heating systems as far back as the 15th century. Around 100 years ago, the first countries started to develop geothermal power systems, using heat from the planet’s interior to generate electricity. But despite the technology’s relative maturity, less than 20GW of geothermal generating capacity exists today.
Recent technological breakthroughs are beginning to change the picture, with geothermal developers adopting advanced drilling techniques borrowed from oil and gas. According to a recent report form the International Energy Agency (IEA), these new technologies could see costs for geothermal power fall 80 per cent by 2035 and make it a viable renewable energy source in virtually every corner of the globe.
The IEA claims growth in the sector could attract investment of $1 trillion over the next decade if these technologies are adopted, with costs dropping as low as $50 per MWh. Longer term, the report predicts that geothermal energy could meet 15 per cent of global electricity demand growth between now and 2050 if project costs continue to decline. Furthermore, the skills required to harness this new opportunity are highly transferrable from traditional energy sectors.
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