Geothermal Industry Struts Its Stuff. By Nathanial Gronewold, Greenwire, January 15, 2010. "The geothermal power industry is maneuvering to escape the shadows of the wind, solar and biofuels sectors and get financiers and lawmakers to take notice. But high up-front project costs and the impatience of investors keeps getting in the way, leaving industry with its hopes pinned on government grants and tax incentives. Hoping to change its luck, the Geothermal Energy Association held its largest gathering ever Thursday, drawing financiers, politicians and project developers to a posh hotel in Lower Manhattan. The gathering featured a lunchtime keynote speech by Senate Majority Leader Harry Reid (D-Nev.). GEA representatives capped the day by ringing the closing bell at NASDAQ. The goal: 'to let Wall Street know about the fundamentals of geothermal energy, which has ... been around for more than 100 years,' said Arni Magnusson, executive director of sustainable energy at Islandsbanki, a major geothermal player in Iceland... The United States is already far and away the world's largest home for geothermal. Of the roughly 10,000 megawatts of global geothermal capacity, about a third is in the United States, about 3,153 MW, according to GEA. Almost all of that is in California, with Nevada and Utah catching up."
2010-01-18
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