WBR Article; from www.WyomingBusinessReport.com
Geothermal energy growth surges
By MJ Clark
January 18, 2008 -- WASHINGTON, D.C. – A survey released by the Geothermal Energy Association (GEA) identifies a growing number of new geothermal power projects in states across the country, including one in Wyoming.
These projects, when developed, would provide up to 3,368 MW of new electric power capacity for the grid, more than doubling US geothermal power capacity from 2,936 MW to almost 6,304 MW -- enough to meet the needs of 6 million households.
New projects are underway in Alaska, Arizona, California, Hawaii, Idaho, New Mexico, Nevada, Oregon, Texas, Utah, Washington and Wyoming.
According to the report, Wyoming ranks last in the list of 12 states with new geothermal projects with just one research and development project begun last year – the Rocky Mountain Oil and Gas Center near Casper, which will produce commercial electricity using hot water produced during the process of oilfield production. The project is expected to generate 0.2 megawatts (enough to power 200 homes.)
Geothermic energy is described by the GEA’s Web page as “a clean, renewable resource that provides energy in the United States and around the world … The heat continuously flowing from the Earth’s interior is estimated to be equivalent to 42 million megawatts of power.(1) The interior of the Earth is expected to remain extremely hot for billions of year to come, ensuring an inexhaustible flow of heat.”
Geothermic energy can be used to generate steam for electrical power generation, or can be used “as is” for space heating and cooling, food preparation and industrial processes.
"The surge in new geothermal power development continues in the U.S.," said Karl Gawell, GEA's executive director. According to the new GEA report 86 new geothermal power projects were underway in 12 states as of January 2008. This is an increase of 35 projects in an additional three states compared to a survey completed just about one year earlier (November 2006).
Development of these new projects will provide significant economic benefits, according to GEA. "New projects will result in the infusion of $11 billion in capital investment in the western states, and create 5,600 permanent jobs and over 21,000 person-years of construction and manufacturing employment," Gawell stated. "New projects will offset 25 million metric tons of carbon dioxide compared to coal-fired power plants, which is equivalent to removing over 5 million cars off the road," he added.
The survey was presented yesterday at a GEA Workshop at Bally's Casino and Resort in Las Vegas, Nevada.
"New federal and state initiatives to promote geothermal energy are paying off," commented Gawell. "State renewable standards coupled with the federal production tax credit are creating a renaissance in US geothermal power production," he added.
But, the federal production tax credit is about to expire at the end of 2008. In December the Senate failed by one vote to keep a multi-year extension of the renewable tax credits in the energy bill. According to the industry, it is now facing a serious dilemma.
"If we can build and sustain this momentum, geothermal energy can become a major US energy source," according to Gawell. "But, Congress and the administration must work together to extend the renewable energy tax credits before they expire. Without an extended credit, the resulting tax hike will undercut one of the fastest growing segments of the US economy - renewable energy," he warned.
The full text of the Geothermal Production and Development Update January 16 2008 is being made available on the GEA web site at: Geothermal Energy Association report
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