Since we are talking about
renewal energy we need to take into consideration geothermal energy. Geothermal
energy is thermal energy generated and stored in the earth. Geothermal power is
cost effective, reliable, sustainable, and environmentally friendly. The Untied
States does have geothermal resources but best ones are located here in the
western states. According to the U.S.
Department of Energy's Geothermal Technologies Program show the best resources
are located in areas such as Alaska, Arizona, California, Colorado,
Hawaii, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington, and
Wyoming.
There are fast moving states that
are already taking advantage of this fine source, one the leading and largest
plants is Idaho. Recently, Nevada has
signed a 25 year power purchase agreement with US Geothermal Inc, a renewal energy
development company. This company also has a large plant located in their
state.
According to the maps provide by
the UDEGTP Oregon has the same ability as Idaho and Nevada do. Why hasn’t Oregon
invested in this resource we have laying under our feet? Oregon is considered
to be on of the Greenest states having the top Green city, Portland in the
whole nation.
According to Saf Dhillon, who handles investor
relations for U.S. Geothermal, Inc., a company that is currently developing
projects in Idaho, Nevada and Oregon, said, “Traditionally Wall Street and
political support has been behind wind and solar, seen as the only renewable
options. Geothermal has always taken the backseat in terms of funding and
subsidy support. As the markets have educated investors they have come to
realize that over the long term these geothermal assets are obviously much more
profitable, but they have also realized that they are very capital intensive up
front.” The location of the project is Neal Hot Springs in eastern Oregon” (Mike
Breslin, 2011).
Neal Hot Springs is a new 23
megawatt facility under construction and expected to cost approximately $130
million. “This is the first geothermal plant to qualify to receive the ITC and
the DOE Loan Guarantee Program. DOE will provide and guarantee a low interest
loan of approximately $97 million. In addition, 60 days after the plant starts
production, we will receive a check for 30 percent of the plants total capital
expenditure under the Treasury Grant Program,” Dhillon explained (Mike Breslin,
2011) .
Oregon again will be one of the pioneering
states to start using less nonrenewable energy. Hopefully the government can
start to give tax credits and incentives for geothermal energy, which is still
considered to be the poor relative to wind and solar.
Although geothermal energy hasn’t
been fully exploited in the US in other countries such as Ice Land geothermal
provides 53% of all their energy. They plan to be completely fossil-fuel free
in the near future. Ice Land gives me great enthusiasm for Oregon in the near
future and its potential to be one of the leading states with geothermal
capabilities.
Isai Montes De Oca
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