Netherlands: Electricity from geothermals may be profitable in the future

It will take at least eight years before gaining electricity from geothermal sources will be profitable. This was reported by Victor van Heekeren of Platform Geothermie to a Dutch newspaper. "Electricity generated by geothermals, is still far too expensive, compared to electricity from coal and gas. But geothermals are a promising source for the future. Geothermals are endless, unlike oil and gas.

The largest obstacle is the cost. Drilling for geothermals is extremely expensive: 1000 Euro per metre. According to calculations by Energie Centrum Nederland (ECN) and KEMA one kilowatt0hour from geothermal sources costs almost 20 cents. This is four times as much as electricity generated by coal.

This price is also only obtainable if the residual heat can be used for heating houses, greenhouses or as an energy source for the industry. This can't be done everywhere in Holland. Nonetheless the ECN thinks that the price can be brought down in the long term to 5 to 10 cents per kilowatt-hour.