Geothermal energy is a core climate solution (as discussed here). The U.S. currently has 3 gigaWatts (3000 megaWatts) of geothermal, one third of the world’s capacity, generating $1.8 billion electricity sales. The US Geological Survey estimates the US could generate 150,000 megawatts of geothermal. A major 2007 study by MIT on Enhanced Geothermal Systems (EGS) found that it could be a provider of substantial baseload (24/7) power. MIT’s panel concluded that “with a combined public/private investment of about $800 million to $1 billion over a 15-year period” — “less than the cost of a single, new-generation, clean-coal power plant” — “EGS technology could be deployed commercially on a timescale that would produce more than 100,000 MWe or 100 GWe of new capacity by 2050.”
The Philippines has almost 2,000 MW of geothermal and are looking to harness another 620 MW. Above is a view of the National Power Corp.’s Makiling-Banahaw Geothermal plant in Laguna province south of the capital Manila.
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