Ground Water Canada

Features Geothermal
U.S. paper examines geothermal costs and benefits reports


June 26, 2014
By Ground Water Canada

Topics

June 26, 2014, Washington, DC – Geothermal energy is an affordable power source, according to a U.S. analysis
of several government and private sector reports published in June.

June 26, 2014, Washington, DC – Geothermal energy is an affordable power source, according to a U.S. analysis
of several government and private sector reports published in June.

The
Geothermal Energy Association released a new paper this month titled
"The Economic Costs and Benefits of Geothermal Power" that examines the public economic costs and benefits of geothermal energy.

Advertisment

Geothermal power “compares favourably with other technologies currently
available according to three difference analyses published in 2014,” the
authors state. The reports were issued by the U.S. Energy Information
Agency, Bloomberg New Energy Finance, and the California Public
Utilities Commission.


The paper also looks at the direct economic benefits of geothermal
power, said a news release from the Geothermal Energy Association. Unlike other renewables, geothermal power produced on federal
lands is based upon leases that are sold competitively, generating bonus
bids, and subsequent production is subject to royalty payments.
According to the Department of the Interior, said the release, geothermal generated $15
million in fiscal year 2014. Also, state lands involved in geothermal
power production generate additional revenues, often dedicated to
support education. California, for example, reports $4 million received
from geothermal production involving state lands.


The paper also discusses the significant number of jobs created when
geothermal power is developed. GEA estimates that for every 100 megawatts of
geothermal power, the industry provides 170 permanent, full-time jobs.
In addition, geothermal power creates 310 annual construction and 330
annual manufacturing/equipment jobs for every 100 megawatts of new installed
capacity.


The report is available from the Geothermal Energy Association website at
http://geo-energy.org/reports.aspx
.