The Geothermal criteria sets out what geothermal projects are applicable for certification under the Climate Bonds Standard.
The potential of current geothermally-active regions is estimated to be able to provide roughly 10% of world primary energy consumption.
Feb 2016: Available for certification
Dec 2015: Public consultation closes
Oct 2015: Released for public consultation
Jan 2015: Technical Working Group established
March 2016: AP Renewables Inc
Additionally, Enhanced Geothermal Systems (EGS) technologies are being developed that will expand geothermal’s geographical range, and hence increase this potential by an order of magnitude.
Geothermal looks set to be a huge source of clean energy for the future.
However, in some instances Geothermal can also be a source of emissions. Some geothermal plants can actually generate higher direct greenhouse gas emissions than fossil fuel equivalents; drilling through some rock types can lead to fugitive GHG emissions.
The Geothermal criteria addresses this issue with the emission threshold that projects must meet if they are to be certified.
1. New and existing geothermal projects with direct emissions of less than 100gCO2/kWh
2. Geothermal projects with mitigation technologies that will render the non-condensable gas releases to the atmosphere negligible
3. Geothermal projects that have been reviewed and registered under the Clean Development Mechanism