What are the advantages of geothermal drilling?

Over the past few years, there has been immense volatility in the energy market. Primarily driven by two substantial conflicts, the result has been immense rises in both oil and gas prices, with huge knock-on effects to businesses and consumers. 

Combined with the ongoing efforts to reduce carbon emissions and, more generally, clean up energy production, geothermal energy solutions have become increasingly attractive. 

Energy that can’t run out

Unlike most forms of hydrocarbon, geothermal drilling allows users to tap into an energy source that won’t run out. The heat in the ground beneath us is emitted from both ongoing radioactive decay and the compression-derived heat from the earth’s core, and remains at a steady temperature year-round. 

While the borehole itself will likely have a lifetime of around 100 years at most, the energy source itself is highly sustainable, and will remain so for millions of years.

Consistent performance

One of the big myths about geothermal energy and ground source heat pumps is that they only work when it’s not too cold. While this is technically true, ground source heat pumps will continue to function all the way down to around – 40°C and all the way up to 60°C, meaning they’re more than capable of functioning in this country, no matter the weather. 

Energy price insulation

Gas and oil-derived heat energy have recently been subject to immense price fluctuations. While the cost of the electricity needed to run ground source heat pumps can still be affected by these changes, it is a much more stable way to heat properties.

As more and more of the electricity grid switches over to wind and solar power, even this component will become increasingly insulated from geopolitical factors, allowing you to heat your property without having to worry about the next set of sanctions or Strait closures.

Clean energy

With all of the headline-grabbing news items of the past few years, climate change has become much less present in many of our minds, but it has only gotten increasingly important. 

Geothermal energy sources can be carbon-neutral, if the energy that powers the heat pump comes from a carbon-neutral source as well. It is an excellent opportunity to reduce carbon emissions while simultaneously saving money. 

Government support

While heat pumps do have a relatively high setup cost, there are some important government grants to incentivise further uptake. Those who are eligible for the boiler upgrade scheme can access £7,500, while those who are currently relying on an off-grid oil or LPG system can access £9,000. 

This can make these solutions a lot more attractive for many people, substantially reducing the time it takes to see a complete ROI.

Geothermal energy solutions are only set to increase in popularity over the coming years, and it’s well worth considering investing in one. Check what kinds of incentives you might be eligible for, before you decide that the setup costs are prohibitively expensive – you will likely be surprised by how much support you can get.