Sustainability analysis of an advanced geothermal energy storage system

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This study focuses on the sustainability design of an Advanced Geothermal Energy Storage (AGES) system installed in a low temperature sedimentary basin. An AGES system functions by injecting heat collected from renewable energy sources and industrial waste heat into a repurposed oil and gas well, and it provides an alternative and sustainable approach to conventional geothermal energy systems. Using this new approach, the cost and site-specific limitations are improved. Existing studies focus on the investigation of the technical feasibility of AGES systems and simplified economic and environmental analyses. In this study, a systematic approach is used to evaluate the levelized cost of energy (LCOE) and a life cycle assessment (LCA). The net present value was determined by considering the surface installation costs and operational and maintenance (O&M) costs over an analysis period of 30 years. The results indicate that the AGES system has a LCOE of 13.5 ¢/kW and produces 16.5 times fewer CO₂ emissions compared to fuel-based energy. These results show great potential for the implementation of AGES systems, which offer significant potential in terms of both economic and environmental aspects. These systems offer a financially viable option with attractive profit margins, while also significantly reducing environmental footprints.

9th International Congress on Environmental Geotechnics (ICEG2023)

Geo-Energy