News

NY times, labeling Geothermal as “the undervalued” renewable resource

Alexander Richter 22 May 2009

Recent stimulus activities in the U.S. focusing on renewable energy development, has the geothermal industry on the verge of an unprecedented expansion, the groundwork for which is being established by the departments of Energy and Interior.

A recent article in the New York Times made an interesting reading and I thought it would be worth to provide a few lines from the article.

So despite the earlier blogged about letter by – among others – GEA to urge the speed up of bureaucratic process to help projects locked up through lack of financing, the article draws a rather positive picture on the industry.

So the article talks about that “Efforts by Congress and the Obama administration to fast-track renewables development nationwide has the geothermal industry on the verge of an unprecedented expansion, the groundwork for which is being established by the departments of Energy and Interior.

The Energy Department is expected this month to announce its list of geothermal projects that will be helped along with the $400 million from the American Recovery and Reinvestment Act. Meanwhile, the Bureau of Land Management and the Forest Service are working together to streamline permitting for new geothermal projects that could occur on federal lands.”

But the article also spurs the big question and fear that ”

Industry leaders who have consulted with federal officials on the $400 million allocation say it appears the money will be used to develop longer-term commercial technology rather than tapping the huge amounts of readily available energy that could get several geothermal plants up and running.

“This has caused a lot of angst among our members,” said Karl Gawell, executive director of the Geothermal Energy Association, the industry’s trade group.

Gawell said his members want more money spent on technology to reach existing underground resources and to locate the best sites for drilling.”

The article goes on describing the view on EGS etc, but for that please see the actual article, link provided below.

Source: The NY Times