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It is important to note that because the lowest cost available for each atmospheric pollutant is used in GEA’s estimation, the true benefit from geothermal power could actually be much greater than the values estimated above. GEA estimates that geothermal provides an estimated about $117 million in externality benefits per year to the states of Nevada and California by avoiding fossil fuel emissions. Using the externality values 3.5¢/kWh and 1.0¢/kWh for coal and natural gas and the system power distributions from the EIA and CEC22 for California in 2011 and Nevada in 2010, we estimate the externality benefit per year is about $87.5 million per year for California and $29.1 million per year for Nevada. This assumes California obtains ≈ 44% (8% coal and 36% NG) and Nevada ≈ 87% (20% coal and 67% NG) of its electricity from fossil fuels. Regardless of how these results are considered (i.e., as benefit derived from using geothermal as a power source, or as costs that must be absorbed in addressing the consequences of non-geothermal power production), it is clear that indirect economic consequences result from specific energy choices regarding how power is generated. This analysis provides a partial measure of the positive attributes that geothermal power production can provide relative to other power generation sources. Furthermore, the economic benefits of geothermal power outlined in this report can be interpreted as minimum values, since they do not consider other positive externalities of geothermal energy utilization. The main conclusion from this analysis is that geothermal energy is a high-value energy source that can provide substantial economic and societal benefits if deployed at sufficient scale to penetrate U.S. power markets. Acronyms BLS U.S. Bureau of Labor Statistics C2O Carbon Dioxide CARB California Air Resource Board CGEC California Geothermal Energy Collaborative CEC California Energy Commission CH4 Methane DICE Dynamic Integrated Climate Change Model DOE U.S. Department of Energy DS Dry-Steam EESI Environmental and Energy Study Institute EIA U.S. Energy Information Administration EPA U.S. Environmental Protection Agency GAD Gross Annual Damages GEA Geothermal Energy Association GHG Greenhouse Gas LBS Pounds (mass) MAGICC Model for the Assessment of Greenhouse-gas Induced Climate Change OPEC Organization of the Petroleum Exporting Countries 22 EIA 2013a, CEC 2013 14PDF Image | Promoting Geothermal Energy
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