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Doug Hollett said that having a predictable budget for the program is important. Funding has been hovering around the $40 million mark the last few years. The budget request for next year has been marked at $30 million in the House and $65 million in the Senate. Craig Mataczynski, CEO, Gradient Resources gives his point of view. and take responsibility for its public image – “under-promise and over-deliver.” He also advised companies to “hire an intern,” to begin mentoring the next generation of geothermal specialists. Doug Hollett, Geothermal Technologies Program Manager with Greg Raasch of GeoGlobal Energy LLC looking on. Greg Raasch, Executive Vice President and Co-Founder, GeoGlobal Energy LLC, gave his views on the state of the geothermal industry. “The good news is that most countries place a premium on electrical power from renewable sources. Throughout the U.S. and around the world, we see many regulatory agencies adopting a renewable portfolio standard or imposing similar renewable energy requirements. The bad news is that in most cases, the utilities are indifferent as to whether that power comes from wind, solar, small hydro or geothermal. In promoting geothermal, we use terms like base load, reliability and availability. They look at cents per kilowatt hour.” Raasch said that the geothermal industry does not have a good reputation in the financial world. He suggests some solutions: the industry needs to standardize geothermal plant designs; lower the costs and risks of exploratory drilling Craig Mataczynski, CEO, Gradient Resources said that geothermal has a difficult time getting traction among renewables. “The utilities have slanted the playing field away from our ability to extract a premium price where we have the opportunity – the base load. In California right now everything is slanted towards wind and solar. We get no credit for the value we provide from a base load perspective.” Mataczynski also stressed the importance of managing risk in exploratory drilling. “I would argue that, from an investment perspective, if you can’t be close to 50 percent success rate on your early wells and above 90 percent on your later wells, you don’t represent a good investment,” he said. Mataczynski is still hopeful for geothermal power. He made a series of suggestions on how the industry can effect change for the better. “I would like to see geothermal get on board with creating Dan Chase of Southern California Edison questioned Greg Raasch’s and Craig Mataczynski’s comments. “We have 47% of our portfolio, over 2,000 megawatts in geothermal. However, when we do our solicitations, the California Public Utilities Commission (CPUC) does not allow us to include integration costs. The integration cost for wind is very high. For solar, it’s very high. For geothermal, it’s basically zero. We’ve worked four years to try and make that case with the CPUC and we still haven’t gotten that done. We are not allowed by CPUC decision to have a separate geothermal solicitation. We cannot carve out geothermal in our big solicitations. It’s all about what the price is for the rate payer without integration costs. That’s the difficulty.” November/December 2012 29PDF Image | Geothermal: Reliable, Renewable, Global
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