Astonishing Things About New Energy, Part 5 – Geothermal
5 Hard-to-Believe Renewable Energy Facts; Renewable energy from wind and solar went from impossibly expensive to nearly 10% of American electricity in less than 20 years. What's ahead may be even more astounding.
Maxx Chatsko, November 11, 2018 (The Motley Fool)
“…Geothermal energy could replace nuclear power, with help from fracking…While some states have provided subsidies to reward nuclear power plants for providing carbon-free electricity, that can't continue indefinitely. By 2030, the country's aging [nuclear] fleet will be long overdue for retirement…The U.S. Department of Energy is quietly funding the development of a novel technology called enhanced geothermal systems (EGS). By using fracking technology pioneered and perfected for use in shale oil and gas regions, it may be possible to create geothermal energy wells across the United States that can produce massive amounts of clean energy…
…[Simulations show numbers almost] too good to be true. The United States has an estimated 100,000 megawatts of easily accessible next-generation geothermal potential -- exactly the amount of nuclear power currently operating. Geothermal is the second most efficient energy source…behind nuclear power, and the U.S. DOE is targeting a deployment date of 2030 -- exactly when the nation will need to replace its nuclear fleet…The opportunity isn't quite ready for individual investors yet, but companies that specialize in oil and gas well optimization…[could take advantage of] emerging opportunities in EGS…” click here for more