article tools
Increase Text Size Increase Text Size Decreate Text Size Decrease Text Size
Share Email This Story Share Share This Story Reader comments Reader Comments (3) Add to favorites Add to Bookmarks Printer friendly version Printer Friendly Version
Article Tool Sponsor:

Advertise with us

More Jobs
Previous Article
Next Article
View All
0 ratings - Sign-in to rate this article
June 29, 2006

Senate and House Actions Restore Geothermal Research Program

Washington, DC [RenewableEnergyAccess.com]

Both Senate and House Committees took action to restore funding for the Department of Energy's geothermal research program, which the Administration's budget had proposed to close. The Senate Energy and Water Subcommittee voted to restore full funding for the DOE geothermal research program in FY 2007, which now provides $22.5 million for geothermal research, similar to previous years.

"With continued federal and state support we estimate that over 30,000 MW of geothermal power could be developed in the next 20 years, representing an investment in new domestic energy supplies of over $70 billion."

-- Karl Gawell, Geothermal Energy Association, executive director

"This is a victory for expanding clean energy production and achieving energy security," commented Karl Gawell, Executive Director of the Geothermal Energy Association (GEA). "Geothermal energy is not a silver bullet," he cautioned, "but it can be a large part of the answer to both the national security and environmental challenges posed by our past energy habits."

The House Science Committee also accepted an amendment that reiterates the obligation of the Department of Energy to undertake a geothermal research program in FY 2007 as directed by the Energy Policy Act of 2005. The amendment was added to legislation that otherwise generally endorses the Administration's new energy initiatives.

According to the GEA, this level of production and new investment in geothermal energy would mean 130,000 new full time jobs and 500,000 person-years of construction and manufacturing employment.

"Today, some 25 states use geothermal resources for power or direct use purposes, but they are tapping only a small fraction of the potential. With continued federal and state support we estimate that over 30,000 MW of geothermal power could be developed in the next 20 years, representing an investment in new domestic energy supplies of over $70 billion," Gawell estimated.
For Further Information
Please Note: RenewableEnergyWorld.com does not endorse the sites behind these links. We offer them for your additional research. Following these links will open a new browser window.
Previous Article
Next Article
View All
Reader Comments (3)
 
No image available
June 29, 2006
Now I will invest in U.S. geothermal power plants companies. Thanks
Giulio Negrini
www.gnpimb.com
Comment 1 of 3
No image available
June 30, 2006
Pension funds and insurance companies are equally desperate for assets that produce "steady lomg-term returns" (ie something that pays better than bonds, but is safer than a hedge fund, earning perhaps 10-15 per cent a year). Geothermal energy electric power plants are infrastructures assets producing steady, long-term returns.
Giulio Negrini
www.giulionegrinifinancialadvisor.us
Comment 2 of 3
No image available
November 24, 2008
geothermal power plants fit perfect in the 2011-2009 worldwide infrastructure development .

Giulio Negrini
www.gnpimb.com
Comment 3 of 3
Add Your Comment

Registered users, please make sure to Sign-In. We and others want to know your ideas and opinions. If you are not yet Registered -- it's quick and easy. Just click below.
Thanks!

Register Now   Sign-In
Featured Total Access Partners
Click company logos to learn more
Marketforce Latin American Wind Energy Association Garrad Hassan America Inc. Schüco PVPowered Inc. Financial Research Associates, LLC
WORLD'S #1 RENEWABLE ENERGY NETWORK
World's #1 Renewable Energy Network Logo