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Geothermal Power, Business and Industry Trends Analysis

Like hydroelectric power, geothermal energy can be extremely reliable and cost-effective, and is one of the cleanest possible sources of renewable power.  It is a well-established technology that uses several different methods to harvest heat from underneath the earth’s surface.  Potential sites for traditional geothermal generation include areas with volcanic activity, tectonic shifting, major hot springs or geysers, where the earth’s heat is very near the surface.  In the United States, most geothermal resources are located in the western portion of the country, along the numerous fault lines on the western seaboard and in the Rocky Mountains.  The U.S. is a world leader in geothermal energy, with roughly 210 trillion Btus of potential capacity.  (Nonetheless, geothermal generation is only 2% of renewable electric power consumption in the U.S.)  In many parts of the U.S., smaller geothermal resources are used to heat buildings or to provide commercial quantities of hot water but are not used to generate electricity.
According to the U.S. Department of Energy, operating and maintenance costs for geothermal plants are extremely low, ranking from one to three cents per kilowatt hour.  Such plants are much more reliable than renewable power based on wind or solar and can operate at about 90% availability.


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