Released April 21, 2017 | SUGAR LAND
en
Researched by Industrial Info Resources (Sugar Land, Texas)--Geothermal energy development in North America is one of the cleanest and lowest-priced renewable energy resources, with no greenhouse gas emissions and no fuel costs. California currently leads all U.S. states in geothermal development, and it alone accounts for more than 20% of geothermal production worldwide. However, Nevada is poised to take the lead over California in the next few years, due to a rush of geothermal development and the state's decision to propose land leases through the U.S. Bureau of Land Management (BLM).
Among the reasons why geothermal developers and investors are turning to Nevada are California's strict regulatory environment and difficulties its developers face in obtaining rights to electrical transmission interconnects.
Geothermal power plants are base load generators and can run 24/7 with a capacity factor of 95%. By contrast, wind and solar power plants run intermittently at capacity factors of 18 and 30%, respectively.
Currently, geothermal energy produces 3,000 megawatts or 0.003% of electricity in the U.S., but that number could quadruple in 10 years and, according to the U.S. Geological Survey Study, could account for up to 20% of the total electrical mix with more favorable economic incentives and policy initiatives.
Industrial Info is tracking 15 geothermal projects in North America valued at more than $3.4 billion mostly in the west coast market region and Nevada. For more information, see January 19, 2017, article - Geothermal Leaders Point to $3.2 billion in Active U.S. Projects as Trump Moves into White House.
Geothermal research and innovation is also quite strong globally. Iceland recently completed a high-temperature drilling project that exceeded 15,000 feet in depth and 800 degrees Fahrenheit, with Baker Hughes (Sugar Land, Texas) providing technical support. The Iceland Deep Drilling Project (IDDP) is a long-term study of hydrothermal high-temperature systems, led by a consortium of power and technology companies and the Icelandic government, to determine if utilizing supercritical geothermal fluids would improve the economics of power production from geothermal fields.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
Among the reasons why geothermal developers and investors are turning to Nevada are California's strict regulatory environment and difficulties its developers face in obtaining rights to electrical transmission interconnects.
Geothermal power plants are base load generators and can run 24/7 with a capacity factor of 95%. By contrast, wind and solar power plants run intermittently at capacity factors of 18 and 30%, respectively.
Currently, geothermal energy produces 3,000 megawatts or 0.003% of electricity in the U.S., but that number could quadruple in 10 years and, according to the U.S. Geological Survey Study, could account for up to 20% of the total electrical mix with more favorable economic incentives and policy initiatives.
Industrial Info is tracking 15 geothermal projects in North America valued at more than $3.4 billion mostly in the west coast market region and Nevada. For more information, see January 19, 2017, article - Geothermal Leaders Point to $3.2 billion in Active U.S. Projects as Trump Moves into White House.
Geothermal research and innovation is also quite strong globally. Iceland recently completed a high-temperature drilling project that exceeded 15,000 feet in depth and 800 degrees Fahrenheit, with Baker Hughes (Sugar Land, Texas) providing technical support. The Iceland Deep Drilling Project (IDDP) is a long-term study of hydrothermal high-temperature systems, led by a consortium of power and technology companies and the Icelandic government, to determine if utilizing supercritical geothermal fluids would improve the economics of power production from geothermal fields.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
