Geothermal Industry Applauds President Obama's Announcement, Says Stimulus Funds Will Help Spur Economic Recovery

The Geothermal Energy Association today applauded President Obama's announcement of $350 million in new investment in geothermal energy. "There are more geothermal power projects under development today than have been built in the history of the United States," according to Karl Gawell, GEA's Executive Director. "This stimulus funding will help make sure those projects are successfully completed and will help develop the technology needed to bring tens of thousands of additional megawatts on line," he added.

According to the GEA's March 2009 Industry Update, there were 126 new geothermal projects under development with the potential to put 5,500 MW of new geothermal power on line, equivalent to 15,000 MW – 20,000 MW from wind turbines or enough power for 5.5 million California homes, according to GEA. New geothermal power projects were identified in Alaska, Arizona, California, Colorado, Florida, Hawaii, Idaho, Nevada, New Mexico, Oregon, Utah, and Washington. GEA estimates that bringing these projects on line could help economic recovery by spurring as many as 100,000 new jobs.

GEA was also enthusiastic about the scope of the announcement. The President's announcement included funding for geothermal demonstration projects, enhanced geothermal systems, innovative exploration techniques, and new resource assessment. "These are all critical areas for geothermal technology development," Gawell stated. "Geothermal energy is a widespread and complex resource base, and this announcement recognizes the need to move forward with technology development across several different applications and resources," he added.

Copies of U.S. Geothermal Power Production and Development Update, March 2009 are available to download free of charge from the GEA Web site at: http://www.geo-energy.org.

Geothermal Power Experts to Convene in Seattle

Geothermal power is poised for dramatic growth, and the companies that will bring new renewable power to the West will be converging on Seattle for the next Geothermal Energy Association (GEA) "Technology, Finance, and Development Workshop" on June 3.

Among the presenters at the Geothermal Energy Association (GEA) event will be:

• Spokespersons for companies leading new technology innovation and project development, including Paul Thomsen of Ormat Technologies, Michael Ronzello of Pratt and Whitney Power Systems, and Hank Sennott of Enel North America.
• GEA's Executive Director, Karl Gawell, who will discuss the tax incentives, loan guarantees, and other new incentives for geothermal power being advanced in Washington.
• Ed Wall, Program Director, U.S. Department of Energy Geothermal Technologies Program, which was just provided nearly $500 million to support new geothermal technology development and applications.

"Utility scale and distributed generation geothermal projects are springing up across the U.S. -- from Florida to Alaska -- in response to the new push for clean, renewable energy coming from Congress and the Obama Administration," Gawell said. "Together new federal and state incentives will lead to billions of dollars of new investment in geothermal power creating tens of thousands of new jobs in the U.S.," he added.

Geothermal companies participating in the workshop represent over 40 new geothermal power projects which together will bring roughly 1,000 MW of power on line, enough power to meet the household energy needs of Seattle and Portland combined. In addition to Ormat, Pratt and Whitney, and Enel, geothermal companies scheduled to present include: AltaRock Energy, Power Engineers, Raser Technologies, Western GeoPower, Nevada Geothermal Power, Turbine Air Systems, ThermaSource, Google.org, OIT GeoHeat Center and U.S. Renewables Group.

Along with Seattle Mayor Greg Nickels, participants will include environmental representatives, local and state government officials, legal and regulatory experts, and others who will join the geothermal community in the day-long program covering nearly every aspect of this exciting renewable energy technology.

"The West has a huge untapped geothermal energy potential," according to Gawell. "This workshop will help realize this potential by encouraging collaboration between leading geothermal developers, finance and investment specialists, government officials, lawyers, and technology experts from around the nation," he said.

Registration for the event is $195 for GEA Members and $295 for non-members (price includes light breakfast, lunch, snack, and workshop proceedings). Reduced price registrations are available for non-profit organizations and credential press are complimentary—please contact Kathy Kent at kathy@geo-energy for confirmation.

The workshop will be held at the Washington Convention and Trade Center in Seattle, Washington from 8am to 5:30pm on June 3, 2009. For more information and to register, visit: http://www.geo-energy.org.