GEOTHERMAL READY FOR TAKE-OFF

Geothermal Energy on Launch Trajectory in 2009
December 14, 2009 (Geothermal Energy Association)

"Geothermal energy appeared to be on a launch trajectory at the start of 2009 and as the year comes to a close it is clear that the past twelve months did not disappoint the investors, environmentalists, and policymakers who have long pushed for its growth…[according to a] Geothermal Energy Association (GEA)…year-end review… outlook for 2010 and beyond…

"…[1] Industry Growth…Despite the recession, geothermal energy grew at a robust pace in 2009, adding 750 full time jobs and 2,827 construction-related jobs due to a roughly $800 million investment…With six new geothermal plants online in the United States, power capacity rose 6% during the year…"

More and more projects. (click to enlarge)

"…[2] Pushing Toward 10 GW…144 new geothermal plants are under development in the United States…[which] could bring the nation 7,000 MW of new baseload geothermal power in the next few years, raising the prospects of 10 GW of geothermal power…[enough] geothermal power [to] satisfy the needs of over 10 million people…[3]
Range of Technology Grows…Enhanced Geothermal Systems (EGS) will allow geothermal power to expand its effective range across the nation…[and] two projects that would utilize hot water produced by oil and gas wells to produce geothermal power [will advance the industry]…

"…[4]Federal and State Policies Fuel Growth…[2009 progress] has been propelled by state and federal policies. The two largest geothermal producers, California and Nevada, each raised their renewable standards; California to 33% by 2020 and Nevada to 25% by 2025. Utilities in those states are looking to geothermal energy to fill these needs…DOE this year opened its loan program for innovative technologies to geothermal technology, and Congress created a new DOE loan guarantee program…Finally, BLM held a sale involving lands in Nevada, California and Utah which resulted in the sale of 255,355 acres of land and total revenue of approximately $9 million…"

More and more capacity. (click to enlarge)

"…[5] ARRA Funding Boosts Geothermal…Up to $338 million in Recovery Act funding was allotted for the exploration and development of new geothermal fields and research into advanced geothermal technologies. These grants will support 123 projects in 39 states…a federal-private total of $691 million invested in new geothermal technology and applications…

"…[6] A Record Trade Show…The 2009 Geothermal Energy Expo…[had an estimated] 2,300 attendees…up from 1,700 in 2008…[7] Future Potential…The outlook for 2010 is for even stronger growth in the industry, continued progress with new technology, and greater priority from federal and state policymakers...[N]ew power projects [will come] on line in four to eight states… New technology advances will continue…DOE will officially recognize a near-term potential of at least 20 GW, or 5% of U.S. power needs, with longer-term possibilities well over 100 GW…"