Sunday, July 13, 2014

Geothermal energy can play a decisive role, not only in the Pacific

If the Asian countries would make full use of the potential they have in renewable energy sources, 94% of the energy needs could be provided. But the countries, including Philippines, must initiate an “energy revolution”, states the newest Greenpeace report. According to the report, geothermal energy has one of the biggest potential in the Pacific region.

If we are to reach a drastic reduction of CO2 emissions by 2050, 80% of the world energy supplies should come from renewable energy. The developing Asian states will also have to play a crucial role, claims the Greenpeace report entitled “Energy Revolution: A Sustainable Energy Outlook”. The global investments ought to reach $17.9 trillion until 2030, whereas the share of developing Asian states should amount to approximately $837.5 billion.

The Philippines are currently the regions leading country in geothermal energy production. The installed capacity in the country reaches 1.900 MW, which is the second largest in the world. The United States hold the primacy with 3.000 MW of installed capacity. The two countries together with Mexico, Italy and Indonesia account for 75% of the world’s geothermal electricity. Geothermal energy is mainly used for heating.

According to the latest report released by Earth Times, the global geothermal energy capacity is currently 18.6 gigawatts, states the portal RenewablesHub. The potential of geothermal energy, an energy source free from greenhouse gas emissions, is more than 70 GW and is available at all time compared to solar or wind energy. However, one of the key conditions for a wider use of geothermal energy are new, cheaper, technologies that could reduce the costs of available and also emerging drilling methods (like that our – PLASMABIT).


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