Geothermal energy is experiencing a period of global expansion, with more new power plants ready to go on line over the next three to four years than in any previous decade. U.S. companies are doing much of that work.
Geothermal energy – tapping into the heat of the earth – is a particularly attractive green energy source because it works all the time, unlike wind and solar power, and is therefore suitable for base load power like fossil fuel power plants.
Intensified interest in geothermal power has led to a great deal of exploration and resource identification around the world. There are now over 700 geothermal projects under development in 70 countries. All together, there are more than 13,000 megawatts of generating capacity under development globally, which is the equivalent of 15 to 20 large nuclear power plants.
The identification of new resources is a big part of the story, but so is the development of new geothermal technologies such as Enhanced Geothermal Systems (EGS) and carbon dioxide plume geothermal power. A California geothermal plant has instituted a commercial extraction process for lithium carbonate, a key material for modern batteries. Such dual use greatly enhances the economic value of a geothermal power plant.
In the United States, the Geothermal Energy Association has an industry goal of providing 5% of the country’s electricity production. We have substantial natural resources for this clean energy source and with the right policies and financing, geothermal power can be a major contributor to a fully green grid of the future.
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Geothermal Energy 2013 Year-in-Review: An Awakening Global Market
Photo, taken on July 27, 2011, courtesy of ThinkGeoEnergy via Flickr.
Earth Wise is a production of WAMC Northeast Public Radio. Support for Earth Wise comes from the Cary Institute of Ecosystem Studies in Millbrook, NY.