Geothermal Market Update: Steady Growth in 2009

[Fledermaus]

The geothermal power development sector is waiting to hear an industry-specific investment allocation under President Obama's plan to increase renewable energy, but at least one recent assessment, attributed to an Obama aide, has already indicated that geothermal and solar together could be funded to add 4,000 megawatts (MW) of new energy capacity, the Geothermal Energy Association, in Washington, recently reported.

"Clearly renewable energy now is a strong buzz word in the Obama administration, and geothermal is playing a strong role in that. The draft economic stimulus package apparently has something like US $440 million set aside for geothermal projects. So the outlook is fairly positive, but it is funding dependent," says Richard Putnam, the treasurer of Provo-based Raser Technologies.

Potential Generation Estimates

Over 100 confirmed and unconfirmed geothermal projects alone could add 4,000 MW of power capacity within a few years time, according to the latest survey by the GEA. A new survey, which should incorporate more projects inspired by the renewal of federal tax incentives, should be ready by February or March, according to Karl Gawell, the executive director of the association.

The U.S. Bureau of Land Management says that a dozen Western states could generate 5,500 MW of geothermal energy from 110 plants by 2015, and that number could rise by another 6,600 MW by 2025, the agency reckons. One good sign from the outgoing Bush administration is that the federal government is sharing geothermal land lease revenues with states and county governments, which may inspire more government-owned or public-private partnership geothermal projects.

http://www.renewableenergyworld.com/rea/news/story?id=54597