DOE Loans to Make Nevada the “Saudi Arabia of Geothermal Energy”

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Oregon will also see investment from the DOE, with the government department announcing an offer of a $102.2 million conditional commitment for a loan guarantee to US Geothermal, Inc. to construct a 22 MW power plant. The project, if approved, could be the first commercial geothermal power plant in the state, with the electricity generated being sold to Idaho Power.

Whereas most geothermal power plants generally draw on underground reservoirs of hot water or steam to drive a turbine, which spins a generator to produce power, the Oregon project will use an improved technology to extract energy from geothermal hot water more efficiently and will use the heat extracted to increase the output of the power plant. With China rapidly becoming the world leader in alternative technologies, the US is really going to have to raise its game if it is to compete.

Via Green Tech Media