A system for the generation of electricity from geothermal energy that is less expensive and more efficient, and avoids dealing with undesirable byproducts, is disclosed. The first system of the present invention relies on using endothermic reactions at the bottom of a well to capture and store the geothermal heat, and exothermic reactions at the top of the well to release the heat stored within the products of the endothermic reactions. In one preferred embodiment, the endothermic reaction is the decomposition of water. To induce the endothermic reaction as well as to harvest and separate the resulting products, a catalytic device is used where each type of product selectively diffuses into its individual conduit. The endothermic products undergo the exothermic reaction in a combustion turbine, and the products of the exothermic reaction are immediately condensed in a condenser. In one preferred embodiment, the condenser condenses steam into liquid water to be returned down the well, thus creating a closed system. The second system of the present invention relies on using a thermocouple to convert the geothermal heat at the bottom of a well into electricity. The electricity is used to create products by electrolysis, which products are then used in an exothermic reaction to generate electricity, or the electricity is supplied to the purchaser or user thereof. In one preferred embodiment, water is separated electrolytically into hydrogen and oxygen, which then diffuse selectively into individual conduits. The products undergo combustion in a turbine, which generates electricity, and the products are then condensed and returned down the well, creating a closed system.