Thursday, July 2, 2015

Canada:

Geothermal Pitched as Alberta's Next Big Energy Source (CBC.ca)

Standard thinking for decades has been that geothermal technology is too expensive and inefficient to be a significant source of energy.

But a growing number of experts say the time may be right for geothermal to assume a higher profile, especially in oil-rich Alberta.

The economics of renewable energy projects are improving as governments begin to introduce carbon taxes and other fees on large carbon-emitting facilities, such as coal power plants.

"I think Alberta is perfectly situated to make the technology work," said Todd Hirsch, chief economist with ATB Financial. "All the geothermal energy experts say it is all wrong for Alberta. You have to go down so deep to get any heat. Well actually, we have experience drilling through four miles [6.4 km] worth of rock to get at other things that are valuable."

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