Production and Development
With 3,040.27 MW of installed geothermal capacity, the United States remains the world leader with 30% of the online capacity total. The future outlook for expanded production from conventional and enhanced geothermal systems is positive as new technologies promise increased growth in locations previously not considered.
As of August 2008, 103 new projects are underway in 13 U.S. states. When developed, these projects could potentially supply up to 3,979 MW of power, meeting the needs of about 4 million homes. At this rate of development, geothermal production in the United States could exceed 15,000 MW by 2025.
The most significant catalyst behind new industry activity is the Energy Policy Act of 2005. This Act made new geothermal plants eligible for the full federal production tax credit, previously available only to wind power projects and certain kinds of biomass. It also authorized and directed increased funding for research by the Department of Energy, and enabled the Bureau of Land Management to address its backlog of geothermal leases and permits.
In April 2008, exploratory drilling began at Newberry Volcano in Oregon.
In 2009, investment bank Credit Suisse calculated that geothermal power costs 3.6 cents per kilowatt-hour, versus 5.5 cents per kilowatt-hour for coal."
In 2009 Raser Technologies (nyse:RZ) put a 8.5 MW called Thermo 1 in Utah the facility uses a process called bottom cycling to produce power from a lower heat level. This plant was 2009's power plant of the year. It was built in only 6 months. They have just begun drilling for their next 15MW project called Lighting Dock.
Naknek Electric Association will drill an exploration well near King Salmon, in Southwest Alaska. It could cut the cost of electricity production by up to 70 percent; the planned power is 25 megawatts.
Read more about this topic: Geothermal Power In The United States
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