Geothermal energy in the United States has the potential to have an installed capacity of 100,000 megawatts (MW) within the next 50 years, according to a report published by an interdisciplinary panel lead by MIT. That’s the total peak energy consumption of France. Given that potential, will we see geothermal energy become a greater part of our power mix?

The current (pdf) installed capacity of geothermal energy in the United States is 3,187 MW, which is more than any other country in the world. Geothermal energy is an attractive energy option, given that plants have low emissions, operate constantly and generate high rates of electricity – in some cases, even outperforming coal-fired power plants.

Yet geothermal energy is not competitive with wind and solar.

The reason, says Brian Anderson, professor of Chemical Engineering at West Virginia University and co-author of the MIT report, comes down to cost: “Exploring a potential geothermal site is expensive, and there is a level of uncertainty in the exploratory phase. An exploratory well costs at least a few million dollars.”

But although the investment costs are hefty, once the site has been evaluated and a plant constructed, “that’s when the payback comes,” says Anderson. “The plant is generating electricity over 90 percent of the time.”

via U.S. Geothermal Energy Potential is Heating Up | Renewable Energy News Article.