According to a new study from NYU, it would take about three billion dollars of DOE investment to get the costs of geothermal down to the cost of coal. That does seem like a fairly steep price when geothermal power seems so very free. But getting enough heat out of the ground to power turbines is no simple affair.

The study also found that previous DOE investments in geothermal provided higher returns in price drops and efficiency increases than investment in any other renewable resource.

There's a sense in the energy industry that geothermal is already a mature technology and that, unfortunately, it's never going to be practical on a large scale. However, the NYU study is pointing out that this is simply not true. New techniques are hitting geothermal from every angle. Some people are working on getting more heat out of geothermal wells, others are making electricity with cooler rocks while a third group of people are creating new ways to reach hot rocks with less money.

The study also determined (though we're not quite clear on how) that geothermal could get down to four cents per kilowatt hour with only $3 B of investment from the DOE. This seems rather fishy to me. But whether or not it will get down to grid parity, more focus on geothermal is definitely needed.

Via GreenCarCongress

The Caribbean island nation of Saint Kitts and Nevis may become one of the most carbon-negative nations in the world as it moves toward installing a geothermal power generation system that could eventually allow the island pair to meet its own energy needs and become a clean energy exporter to its neighbors.

There may be as much as 200 megawatts (MW) of capacity available, which would allow Saint Kitts and Nevis to be a power exporter to some of its neighboring islands, even as far as Puerto Rico. At present, the islands need only 10MW or so, although some resort growth is going to increase the demand. The initial plant is anticipated to be on line and producing power by the end of 2009. Additional production holes will be added thereafter to reach an initial target of 50 MW.

This isn't the first time plans for a Caribbean island to be powered solely by nenewables has come to light. Last year, we came across the story that Johnny Depp's Island to be Solar and Hydrogen Powered, but this is a far less exclusionary project.

Nevis has long been known for its hot springs. Now, this project will make Saint Kitts and Nevis the first nation in the Caribbean to utilize geothermal energy for its electricity, and may aid it in boosting its tourism with promises of 100% Earth-powered vacations.

Links: Nevis blog

via: Celsias