WASHINGTON--(BUSINESS WIRE)--As states, such as California, move ahead with more aggressive Renewable Portfolio Standards (RPS) and seek to reduce greenhouse gas emissions, state officials are finding they need to consider the full value of the power sources they use. This review is critical to ensure that consumers get the most affordable overall system cost, and recognize the many different reasons for choosing clean power sources.
The Geothermal Energy Association (GEA) and Geothermal Resources Council (GRC) have released a new, joint report titled "The Values of Geothermal Energy: A Discussion of the Benefits Geothermal Power Provides to the Future U.S. Power System." Prepared by Ben Matek, GEA's Industry Analyst, and Brian Schmidt, Librarian, GRC, the new report documents the many benefits of geothermal power. "Geothermal power offers both firm and flexible solutions to the changing U.S. power system by providing a range of services including but not limited to baseload, regulation, load following or energy imbalance, spinning reserve, non-spinning reserve, and replacement or supplemental reserve," the report begins.
Looking beyond the benefits to the power system, the report also summarizes other key benefits of geothermal power including economic and environmental benefits. “We are often asked about the full range of services and benefits available from geothermal," Matek said. "So, we decided to join with GRC and put out a white paper that addresses these questions."
"This is a timely report," said Karl Gawell, GEA's Executive Director. "The California PUC recently noted active questions before policy makers in California and elsewhere, specifically: 'how increasing amounts of intermittent generation are impacting grid reliability, quantifying the impact and benefits of various resources to integrate intermittent generation, and what new policies should be adopted to manage the changing electric grid.'”
As the report indicates, these questions are gaining in importance as the United States expands its renewable power production, which today means "generating approximately 14% of the electricity” nationwide. Much of this is coming from wind and solar photovoltaic technologies that rely heavily on the prevailing weather conditions in order to generate power. "Geothermal energy is a renewable power source that can provide baseload and flexible power, quickly adjusting to fit the needs set by variable renewable energy technologies," the report states.
The report is available at http://geo-energy.org/reports/Values of Geothermal Energy Draft Final.pdf.
A media call will be held on Wednesday, Nov. 6 at 10am PT/1pm ET, featuring geothermal business leaders discussing the Valuation Report. For more information, please contact Shawna Seldon, The Rosen Group, 917 971 7852 or shawna@rosengrouppr.com.
About the Geothermal Energy Association:
The Geothermal Energy Association (GEA) is a trade association comprised of U.S. companies that support the expanded use of geothermal energy and are developing geothermal resources worldwide for electrical power generation and direct-heat uses. GEA advocates for public policies that will promote the development and utilization of geothermal resources, provides a forum for the industry to discuss issues and problems, encourages research and development to improve geothermal technologies, presents industry views to governmental organizations, provides assistance for the export of geothermal goods and services, compiles statistical data about the geothermal industry, and conducts education and outreach projects. For more information, please visit www.geo-energy.org. Subscribe to GEA’s newsletter here. Follow GEA on Twitter. Become a fan on Facebook.
About the Geothermal Resources Council:
With the experience and dedication of its diverse, international membership bolstering a more than 40-year track record, the Geothermal Resources Council (GRC) has built a solid reputation as the world’s preeminent geothermal association. The GRC serves as a focal point for continuing professional development for its members through its outreach, information transfer and education services. For more information, please visit www.geothermal.org. Get your daily geothermal news at Global Geothermal News. Become a fan on Facebook. Follow GRC on Twitter @GRC2001. Check out GRC’s YouTube Channel. See geothermal photos on GRC’s Flicker page.
