Geothermal Energy Growth Surge Continues, New
Industry Survey Reports
WASHINGTON, Jan. 14 /PRNewswire-USNewswire/
A survey released by the Geothermal Energy Association (GEA) identifies a
growing number of new geothermal power projects in states across the
country. These projects, when developed, would provide up to 3,368 MW of new
electric power capacity for the grid, more than doubling US geothermal power
capacity from 2,936 MW to almost 6,304 MW -- enough to meet the needs of 6
million households. New projects are underway in Alaska, Arizona,
California, Hawaii, Idaho, New Mexico, Nevada, Oregon, Texas, Utah,
Washington and Wyoming.
"The surge in new geothermal power development continues in the US," said
Karl Gawell, GEA's Executive Director. According to the new GEA report 86
new geothermal power projects were underway in 12 states as of January 2008.
This is an increase of 35 projects in an additional three states compared to
a survey completed just about one year earlier (November 2006).
Development of these new projects will provide significant economic
benefits, according to GEA. "New projects will result in the infusion of $11
billion in capital investment in the western states, and create 5,600
permanent jobs and over 21,000 person-years of construction and
manufacturing employment," Gawell stated. "New projects will offset 25
million metric tons of carbon dioxide compared to coal-fired power plants,
which is equivalent to removing over 5 million cars off the road," he added.
The survey will be presented at a GEA Workshop Wednesday, January 16th at
Bally's Casino and Resort in Las Vegas, Nevada.
"New federal and state initiatives to promote geothermal energy are paying
off," commented Gawell. "State renewable standards coupled with the federal
production tax credit are creating a renaissance in US geothermal power
production," he added.
But, the federal production tax credit is about to expire at the end of
2008. In December the Senate failed by one vote to keep a multi-year
extension of the renewable tax credits in the energy bill. According to the
industry, it is now facing a serious dilemma.
"If we can build and sustain this momentum, geothermal energy can become a
major US energy source," according to Gawell. "But, Congress and the
Administration must work together to extend the renewable energy tax credits
before they expire. Without an extended credit, the resulting tax hike will
undercut one of the fastest growing segments of the US economy -- renewable
energy," he warned.
The January 2008 results by state are: (State: Number of Geothermal
Projects/Megawatts) Alaska: 3/33-80 MW; Arizona: 2/2-20 MW; California:
18/683.2-1133.2 MW; Hawaii: 2/30 MW; Idaho: 5/251-326 MW; Nevada:
40/1046-1321 MW; New Mexico: 2/21MW; Oregon: 7/128.4-213.4 MW; Texas: Lease
Sale Completed; Utah: 4/191.6-224 MW; Washington: 2/unspecified; Wyoming:
1/0.2 MW. Total: 86 geothermal projects; 2386.4-3368.8 MW.
The full text of the Geothermal Production and Development Update January 16
2008 is being made available on the GEA web site at: http://www.geo-energy.org/
on January 16, 2008.
Geothermal Energy Association
CONTACT: Karl Gawell, +1-202-454-5264, Cell: +1-202-255-2527, or MarkTaylor,
+1-202-454-5241, both of Geothermal Energy Association
Web Site: http://www.geo-energy.org/
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