(Steamboat 1 geothermal plant, Nevada.  Photo:  Department of Energy.)

Nevada’s geothermal energy is poised to make a significant contribution to America’s renewable energy future, as a potential $22.5 billion industry over the next three decades, by tapping into the immense power of the Earth’s mantle.

There are 86 geothermal projects currently under development in Nevada, according to the Geothermal Energy Association.  If completed, they would provide 3686.4 Megawatts of power, create thousands of jobs in construction and maintenance, and offset about 23.3 metric tons of carbon dioxide.

A relatively small sliver of stimulus funding will help Nevada’s renewable power portfolio to expand in the short term; and it will pay handsome dividends for the indefinite long term, in the form of clean energy, sustained employment, and revenue.

The Department of Energy recently invested $73.6 million into Nevada geothermal projects, from American Recovery and Reinvestment Act and 2008 budgetary funding. 

(Geothermal rig in central Nevada.  Photo:  Johnny Kilroy.)

While only about 2% of the state’s ARRA funding has gone to energy, DOE has lauded the Nevada Office of Energy for its expeditious use of the money.  The timely infusions are expected to give a very strong jump start to geothermal.

The Renewable Portfolio Standard (RPS) law in Nevada requires utilities to use a certain percentage renewable power.  The RPS rises in annual increments, to 25% by 2050.

In the last five years, U.S. net generation of geothermal electricity increased only about 3.5%, according to data from EIA, but is expected to increase another 7% by the end of 2011. 

The GEA states,

If Nevada were a country, it would be the 9th largest producer of geothermal power in the world today

With the continued support of the government, it may soon climb even higher in the ranks, and take our country one step closer to energy independence.

Learn More

Today, July 22, is the GEA Geothermal Energy and Utilities, Co-ops, and Public Power Workshop in Las Vegas, Nevada.  The purpose of the workshop is to collaborate on issues of geothermal that utilities are currently facing.

(This diamond-encrusted geothermal drill bit represents most of the $22.5 billion (it did come with buy-one-get-one-free well casings, though).)