Drilling wells in the natural geothermal reservoir to harness the energy will release hazardous greenhouse gases.ĭangerous gases such as carbon dioxide, silica, methane, ammonia, and sulfur dioxide are emitted extensively in and around geothermal power plants. Mother earth is also busy producing greenhouse gases underneath its surface. Humans are not the only producers of greenhouse gases. Energy produced by burning coal costs between 2 to 3 cents per kilowatt-hour.Energy produced by geothermal power plants costs between 4 to 8 cents per kilowatt-hour.Geothermal energy is not for impatient users!Īdditionally, the exploration and drilling process to locate fresh reservoirs further increases the cost significantly.Įnergy generated by a geothermal power plant costs twice as much as that generated from burning coal.Īs reported by the Geothermal Technologies website, Although the upfront costs are considerably high, geothermal technology works great as a long-term investment. The total cost would be somewhere between 10,000 USD to 20,000 USD depending upon the size of your home.Īnd, if you ask me about the Return on Investment (ROI), it would take around 10 to 15 years or more.
Let me start by presenting you with a basic idea of how much it might cost you to install a geothermal heating or cooling system for your home. Geothermal technology is not cost-effective at present. High initial capital and late ROIįor starters, it is still not 100% cost-effective compared to hydro, solar, or wind energy. Is geothermal energy usage being pushed down by the need for high capital? 1.