36 Geophysics in Geothermal Exploration Figure 1.5 From IRENA and IGA (2023). Estimated installed geothermal electricity capacity, by region, 2021. Figure 1.6 IRENA and IGA (2023). Estimated geothermal heating and cooling installed capacity, by region, 2020. In the renewable energy sector, there is competition between technologies like solar, wind, biomass, and geothermal for investment, policy support, and market share. Solar and wind energy have surged in deployment due to their rapid advancements, decreasing costs, and modular nature, making them accessible and scalable across a wide range of locations (Figure 1.7). In contrast, geothermal energy faces distinct challenges that can slow its expansion despite its potential for stable, baseload power or direct heat usage. One of the significant hurdles is the regulatory landscape: accessing deep geothermal resources requires extensive permits and regulatory compliance due to their subsurface nature. Another challenge for geothermal energy deployment is the inherent risk and complexity of drilling deep into the Earth to access high-temperature resources. Deep drilling is costly and carries geological risks, including the lack of targeted
RkJQdWJsaXNoZXIy NjA3NzQ=