This work package deals with the impact of soft stimulation techniques on geothermal power production cost and public acceptance. The aim is to identify and carry out a detailed analysis of all relevant parameters using an enhanced cost calculation method, to quantify them using key performance factors and to determine future trends and draw up a road map and further recommendations.
To begin with, all relevant factors, both technical and socio-economical, will be identified and analysed using impact and/or relevance methodology and incorporated into risk and time/ readiness maps in order to describe the recent status quo. Next, risk mitigation options for all major parameters identified during the risk mapping will be further investigated and prepared for transfer to a cost accounting model. Owing to a number of uncertainties, the cost accounting models commonly used in the geothermal industry are not adequate for a detailed analysis of geothermal power production cost. Consequently, in line with longstanding practice in the gas and oil industries, a Monte Carlo-based cost accounting model will be set up to calculate appropriate bandwidth for the internal rate of refund, the net present value and in particular the levelised cost of energy.
At the same time, possible synergies with other subsurface technologies will be analysed in detail in order to harvest existing knowledge, e.g. from the shale gas and oil industry, and/or to provide relevant support (e.g. to energy storage systems). Another deliverable of this task is an evaluation of standardisation needs, with the aim of providing appropriate recommendations and guidelines.
To complete the work package, two qualified time/readiness estimates based on the results of the different topics described above will be prepared, incorporating future trends.