Analysis of geothermal energy as an alternative source for fossil fuel from the economic and environmental point of view: A case study in Iraq.

In the field of electricity production, factors such as the restricted availability of investment resources and the state of the surrounding environment are among the most significant factors that influence this process. Minimizing the cost and the harmful effects of the environment has always been and will be the concern of experts. The method of generating electricity using geothermal power plants is being highlighted due to the gravity of the issue of environmental protection as well as the security of electricity. Obviously, the resources necessary for investment in our country are overshadowed by environmental issues. Now, the main question is whether it is possible to replace fossil power plants with geothermal ones, or at least in the future? Given the high cost of electricity production by geothermal power plants and the state of electricity production costs in the country, this study tried to do an economic study of the aforementioned issue, taking into account the social costs. In this study, the total cost of electricity generation per kilowatt hour (kWh) in each of the power plants has been calculated. Then, a necessary evaluation has been made taking into account the pollution and greenhouse gas emissions from fossil fuel power plants along with the imposed external costs. At the end, it was found that the production of electricity by geothermal power plants is not economically justified, compared to fossil power plants in scenarios 1 and 2. However, this can be taken into consideration in scenario 3, and it is economic in scenarios 4 and 5. Finally, it seems using energy from fossil power plants based on scenarios 1 and 2 will not be economically justified in the not-too-distant future given the rise in electricity demand, the scarcity of fossil resources, and the high level of pollution from these sources. [ABSTRACT FROM AUTHOR]