Values of Geothermal Energy October 2013

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Values of Geothermal Energy October 2013 ( values-geothermal-energy-october-2013 )

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The Values of Geothermal Energy October 2013 Replacement or Supplemental Reserve is an additional reserve required in some regions. It begins responding in 30 to 60 minutes. It is distinguished from non-spinning reserve by the response time frame. Unit commitment typically covers several hours to several days. Unit commitment involves the starting and synchronizing of thermal generation so that it is available when needed to meet expected electricity demand. Variable Energy Resources (VER) are any sources of energy that are not continuously available due to some factor outside direct control of the resource operator (solar, wind, tidal, etc.). The VER may be predictable, for example, tidal power, but cannot be dispatched to meet the demand of a power system. The Changing U.S. Power Market Until recently, renewable energy technologies represented only a small fraction of the U.S. power system. However, in recent years, renewables have become an increasing contributor to the grid, generating approximately 14% of the electricity of the United States as of June 2013 with wind, solar, and geothermal power generating about 5% of that electrical power.1 Wind and solar generation are important and innovative technologies that will play a prominent role in the transition to a clean energy economy and help alleviate the significant consequences of a warming planet. However, wind and solar photovoltaic rely heavily on the prevailing weather conditions for their generation. Changes in wind patterns or a cloudy day can affect the availability of these generation technologies. As a result, reliability of the overall power system can fluctuate. Geothermal energy is a renewable power source that can provide baseload and flexible power, quickly adjusting to fit the needs set by variable renewable energy technologies. In addition, President Obama’s climate goals encourage new opportunities for geothermal power to provide clean electricity to communities across the U.S. Unfortunately, natural gas is used in many scenarios rather than geothermal power, but not all the externality and ancillary costs associated with natural gas are factored into the price of electricity. This misconception creates the illusion that natural gas power plants are a viable alternative to geothermal power. Other actions by President Obama, such as directing the U.S. Environmental Protection Agency to work expeditiously to complete carbon pollution standards for both new and existing power plants, will create new opportunities for geothermal power. In 2012 the President set a goal to issue permits for 10 gigawatts (GWe) of renewables on public lands by the end of the year. With approximately half of geothermal power plants on public lands this new goal should accelerate geothermal development. Also, the Department of Defense – the single largest consumer of energy in the United States – is committed to deploying 3 GWe of renewable energy on military installations, from solar, wind, biomass, and geothermal sources, by 2025. Federal agencies are setting a new goal of reaching 100 megawatts (MWe) of installed renewable capacity across the federally subsidized housing stock by 2020. 1 U.S. EIA 2013a 7

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