Geothermal energy is a renewable source of energy. Unlike nuclear and fossil fuels, geothermal energy can generate power for a long time by using the earth’s heat. Thus, it is an excellent source of electricity.
The US Geological Survey recorded nearly 24 billion barrels of geothermal energy in 2013 from all sources. Geothermal energy can be located anywhere, making it a green renewable resource that is cost-effective. About 1/3 of all the heat generated under our planet’s surface could power our global civilization.
What are the energy opportunities with geothermal energy?
The most important reason for using geothermal energy is that it is a renewable resource, which means that energy developers can use it again and again by replacing the source. More than 150 countries have been using geothermal resources for more than 100 years.
Geothermal systems produce a constant flow of electricity, while nuclear plants only produce when they are running, and different geographic conditions influence the amount of energy produced.
Geothermal energy can be used as a heat source to provide hot water for residential and commercial buildings. Thermal energy is also being used as a source of electricity, beneficial both to industry and households. Geothermal energy can produce up to 50% of the energy needs in many developing countries.
Because it is cheap and does not pollute the environment, it has become a global commodity that will continue to increase value.
Opportunities in Nigeria
In Nigeria, the incessant power supply challenges are a fundamental issue affecting the country’s economic development. However, the country is still far behind in tapping into the abundance of geothermal resources. The Ikogosi warm spring in Southwestern Nigeria is one of the many good pieces of ecological evidence of inherent geothermal energy.