Elsevier recently published a new study by Mark Bolinger et al. comparing the net value of geothermal with that of other renewable energy sources, including wind, solar, and solar + storage. Looking at power purchase agreements (PPAs) associated with these energy sources, the authors determine that a "cost gap" has developed between geothermal and the other resources. The authors also point out that geothermal's capacity value and baseload generation profile actually result in a higher value than wind or solar, but that that this value advantage hasn't been enough to overcome the price gap when it comes to deployment.
To resolve this, the authors suggest that additional policy measures are needed, as well as continued R&D investment, if geothermal is to attain its anticipated role in our country's shift to cleaner energy.
Read the paper here.
Geothermal Rising and the GR Policy Committee are actively working with other organizations to build more favorable policies at the federal, state, and Tribal levels.
