Encyclopedia of Sustainability Science and Technology

2012 Edition
| Editors: Robert A. Meyers

Geothermal Power Economics

Reference work entry
DOI: https://doi.org/10.1007/978-1-4419-0851-3_232

Definition of the Subject and Its Importance

Geothermal power is the rate of extraction of geothermal energy, whether expressed as heat energy or equivalent electrical energy, and is expressed as Watt or an equivalent unit. The extraction of geothermal energy, and therefore geothermal power capacity , is dependent not only on the technological barriers to this energy extraction but also on the economic barriers. Power generation from geothermal energy, therefore, requires consideration of the economics of geothermal power. This entry considers power cost as the main economic criterion rather than the power price or project profitability because, unlike price or profitability, cost is substantially independent of the corporate culture of the developer and operator, financing mechanism, local market forces, and government policies. The most comprehensive measure of the geothermal power cost is “levelized” power cost, expressed typically as cents per kW-hour power generated over the...

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Copyright information

© Springer Science+Business Media, LLC 2012

Authors and Affiliations

  1. 1.GeothermEx, IncRichmondUSA