BY Meribeth Deen, Energy Boom:
Market changes and an investment of $800 million to $1 billion over 15 years could bring more than 100 GW of geothermal energy to the US grid by 2050, according to a study recently released by a multi-disciplinary research group at MIT. That investment, is less than the cost of a single “new generation” coal-powered plant, and the amount of energy is equivalent to 200 coal-fired power plants or 100 new nuclear power plants.
The report says the heat that lies in the rock six miles beneath Oregon’s Newberry Volcano alone could provide 2,500 times as much energy as the United States currently uses. MIT’s research follows up research published last year by Southern Methodist University (SMU). SMU research shows that the U.S. houses more than 2.98 million megawatts of geothermal energy that could be tapped by advanced geothermal technologies… Read more