Edinburgh Energy Firm Plans to Create Geothermal Energy Industry
Published By : 18 Mar 2015 | Published By : QYRESEARCH
Generating energy from underground heat works out as a feasible solution in order to meet Scotland’s energy needs, says Town Rock Energy. The solution is also effective to minimize the fuel poverty and offer more job opportunities in the market.
It is an Edinburg-based company that aims to establish the geothermal energy industry in Scotland. Geothermal is not just a clean source of energy but abundant too in Scotland.
According to the report published in 2013 the Scottish Government noted that third of Scotland’s heating needs could be met in disused mines as there are around hundreds of these across Scotland.
The extraction process is all about drilling wells to transport the water to the surface and distribute it to the local communities through a heat station and numerous pipes called district heating scheme.
The founder and managing director has set up Town Rock Energy in collaboration with his father, who has deep knowledge and experience in the exploration geology and oil field management in North Sea.
The use of geothermal energy is same as that used in the oil and gas industry. Hence, it will be a practical solution for the oil and gas companies to explore and invest in geothermal energy. However, they are not.
Scotland’s vision is to see geothermal resources being used in the country as an integral part of their future energy mix. This factor will position Scotland as the leader in carbon neutrality. The region is establishing a whole new level of business in industries that does not exist with the rapid adoption of legislative and intense planning framework. Hence, Scotland is bound to witness huge obstacles in the future.
Townsend is requested to prepare their draft outlining the pros and cons between fracking for the Scottish Renewable and geothermal.
With oil prices at all time low, there are more skilled people looking out for jobs in this region. It also helps to reduce the cost of drilling that in turn reduces the cost of exploring for geothermal energy.