In 2009, scientists who were part of the Icelandic Deep Drilling Project (or IDDP) set out to determine whether supercritical water (water that is too hot to be called a liquid or a gas.) They intended to use this extremely hot water as a source of energy. But while drilling, the engineers struck magma under the Earth's surface. At first, the public thought that this ended the IDDP. But in January of this year, Geothermics magazine announced how engineers had instead developed a geothermal energy system around the hole that they had accidentally struck magma in. Instead of discovering supercritical water, they had let water from the area flow over the hole they had drilled and create a reservoir of super hot water, and were able to draw energy from it. While this original drilling site was cemented over, a door had been opened to developing a powerful source of geothermal energy.
Volcanic energy basically works by pumping water into a channel in which its molecules are constantly forced to bang up against each other. This motion spins a turbine, which can generate electric power. It is a clean source as well, with virtually no carbon emissions aside, perhaps, from the production of extraction materials. Generally, there is little room for explosions in the operation as the hole through which magma is pumped is small and well-controlled. Nevertheless, engineers are generally uncomfortable with the idea of installing a volcanic energy plant near towns and cities.
It will take a considerable amount of funding to bring volcanic geothermal energy into the realm of public consumption. Over the past few years, the Icelandic government has put $22 million into the project.
Scientists have not yet figured out how to build a geothermic station atop of a volcanic well. But once they do, the energy will be able to be transported through a grid to peoples' homes. It's difficult to say how the new energy source will fit into existing grids, but I don't think it will be very hard to incorporate volcanic energy in a place like Iceland, in which one third of the citizens already get their power from some sort of geothermic source. Once volcanic energy can be marketed, it will definitely help cut down carbon emissions from transportation if partnered with electric and hybrid cars.
The scientific community, it seems, remains generally optimistic in thinking that volcanic energy will soon be developed to its full potential. In fact, engineers are making great progress in Nicaragua, the nation that is considered to have the highest potential for geothermal energy. Obviously, volcanic geothermal energy is not an option for every nation. But in nations that have potential for a volcanic energy grid, it is a very important development.
Icelandic Deep Drilling Project website: http://iddp.is/
Sources:
http://www.ibtimes.com/nicaraguas-volcanoes-fuel-green-energy-drive-1467202
http://qz.com/172642/why-volcanoes-are-the-energy-source-of-the-future/
http://www.scientificamerican.com/article/icelandic-drilling-project-opens-door-to-volcano-powered-electricity/
http://www.smithsonianmag.com/innovation/can-volcanic-magma-power-future-180949789/?no-ist
http://www.youtube.com/watch?v=jARDdWuFpK8