USA, Nevada: Senator Reid Calls for New Loan Fund to Promote Exploratory Drilling & Mapping

Ahead of Eighth Clean Energy Summit, Reid Releases Second Report On State Of Clean Energy in Nevada (News Release)

Renewed investment could lead to the annual development of approximately 800 MW of geothermal energy

Nevada Senator Harry Reid has released “Playing to Win in Clean Energy,” his second report on the state of clean energy in Nevada. Written as an update to his original 2012 document that detailed how Nevada’s renewable energy economy has been aided by coordinated federal and state actions, the new report highlights successes in Nevada’s clean energy sector and illustrates their positive impacts in every corner of the state. In the report he highlights the work of Ormat technologies in Nevada and suggests a plan to develop geothermal further:

Tens of thousands of megawatts of geothermal power potential could be developed, but it will
require a significant and sustained effort to support geothermal exploration and resource quantification.

The establishment of a new loan fund to promote exploratory drilling and to encourage mapping of the nation’s geothermal resource base would help to capture some of Nevada’s untapped geothermal resources.

Such a program would involve drilling and testing numerous (between 50 and 100) new exploration
wells in promising but unproven areas during the next few years, leading to the discovery and characterization of new electricity-grade resources.

If the United States were to allocate the same resources as it did to create the Strategic Petroleum Reserve ($4 billion) it could lead to the annual development of approximately 800 MW or 6.6 million MW/hrs of geothermal energy. The production of 800 MW annually would help to create between 4,000 and 6,000 construction jobs and between 750 and 800 full-time operations jobs.

Playing to Win in Clean Energy (PDF)

The 39th GRC Annual Meeting & GEA Geothermal Energy Expo will be held September 20-23 at the Peppermill Resort Spa Casino, Reno, Nevada.