The geothermal industry has been struggling with the same barriers to development for years. It’s a frustrating situation: while geothermal is a reliable, steady baseload form of renewable energy, its development expenses overshadow its obvious long-term benefits. Meanwhile, other intermittent renewable sources such as wind and solar are able to take advantage – and control – of state renewable portfolio standard (RPS) policies and other incentives due to their lower costs of deployment.
Clearly we have a situation where geothermal is not given its due, it is not properly valued, and is being put on parity with wind and solar when we know they are intermittent technologies,’ explained Halley Dickey, director of business development at TAS Energy during a session at the recent REWNA Conference and Expo in Orlando, Florida.
Considering these challenges, companies are burning the midnight oil to come up with innovative ways that make geothermal a smart, valuable investment for customers, and experts at ORMAT (NYSE:ORA) believe they may have come up with a winning solution. According to Paul Thomsen, director of policy and business development at ORMAT, it has strong implications for the industry as a whole in 2013 and beyond.
This certainly seems to be an interesting way of getting geothermal built and managed so the energy grid gets the juice and the public does not get stuck holding the weight of any install debt down the road.