14 DAY TRIAL // Results of studies carried out on the topic of geothermal power in the UK indicate that the country's present geothermal resources could provide for 20% of the country's energy needs.
Although geothermal reserves seem to be spread throughout the entire British territory, the regions of Southwest England, Northern Ireland and Scotland are said to display the most significant potential for the development of a geothermal energy industry.
Sinclair Knight Mertz, a company specializing in strategic consulting, explains that UK's geothermal resources, if used properly, could generate as much energy as nine nuclear power stations: about 9.5 gigawatts of base-load electricity.
As well as this, numerous jobs could be created by investing in this sector.
According to earthtechling.com, for the time being, the British government seems reluctant to invest in developing the geothermal power industry. Thus, this particular industrial sector is still waiting for its Renewables Obligation banding review.
Since 2002, the UK has made use of such Renewables Obligations, which compel licensed electricity suppliers – both national and local – to source an increasing proportion of electricity from renewable sources.
Apparently, the introduction of Renewable Obligations in the UK has led to a significant increase in the levels of renewable electricity generated here: official figures more than tripled.
Dr. Ryan Law, the Chair of the REA Deep Geothermal Group, explains, “We don’t want to be left out of a global industry which is estimated to be worth £30 billion (about $46.4 billion / €37 billion) by 2020. We could be at the forefront of this industry given the strength of British engineering skills.”
Given the fact that, unlike solar or wind power, geothermal activity is a much more reliable renewable energy source, as it does not depend on weather conditions, it is our belief that the UK should invest in developing this industry.
Granted, initial costs might take their toll on the country's economy, but the end-results are likely to make the efforts worthwhile.