Saturday, November 7, 2009

Climate Progress: Energy and Global Warming News for November 6: Philippines targets $2.5 billion geothermal development

November 6, 2009
Geothermal energy is a core climate solution (as discussed here).  The U.S. currently has 3 gigaWatts (3000 megaWatts) of geothermal, one third of the world’s capacity, generating $1.8 billion electricity sales.  The US Geological Survey estimates the US could generate 150,000 megawatts of geothermal.  A major 2007 study by MIT on Enhanced Geothermal Systems (EGS) found that it could be a provider of substantial baseload (24/7) power.  MIT’s panel concluded that “with a combined public/private investment of about $800 million to $1 billion over a 15-year period” — “less than the cost of a single, new-generation, clean-coal power plant” — “EGS technology could be deployed commercially on a timescale that would produce more than 100,000 MWe or 100 GWe of new capacity by 2050.”
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