Why Geothermal Energy?

Why Geothermal?

Geothermal Energy is one of the only base-load sources of renewable energy. It provides up to 95% of its electricity generating capacity year round. Power generation from solar yields between 18-25% and wind between 30-40%. Geothermal Energy is also the most cost-effective renewable energy source. Unlike the gigantic wind turbines, or panel covered solar fields - geothermal energy has very little impact on its surroundings: geothermal has the smallest footprint of any renewable energy. Geothermal is a proven technology; the industry has several power plants which have been in operation for decades.

Why the US?

The United States in the world’s largest producer of geothermal electricity, with an installed capacity of 3,153 megawatts. There are 65 operating geothermal power plants in the US. In addition to this, there are 5,400 megawatts of new geothermal power plant capacity currently under development. The US government is encouraging geothermal energy by providing safe jurisdiction, and legislated growth.

Why Now?

Never has there been a more opportune time for geothermal energy to grow. In 35 states there exist aggressive regulations which require the increased production of energy from non-carbon emitting sources. These regulations are known as renewable portfolio standards (RPS). There are strong government incentives and legislative support for renewable energy development including the American Reinvestment and Recovery Act of 2009. This act provides production tax credits, investment tax credits, grants, and loan guarantees for the renewable sector.