Google Investing Over $10 Million in Geothermal Energy
Geothermal energy has finally hit the big time. Google.org, the philanthropic arm of Google, announced today that it is investing $10.25 million in an energy technology called Enhanced Geothermal Systems (EGS). The funding will also go towards geothermal resource mapping, information tools, and a geothermal energy policy agenda.
And it looks like Google made a wise investment choice. According to an MIT report on EGS, only 2% of the heat beneath the continental US between 3 and 10 kilometers (depths we can reach with current technology) is more than 2,500 the annual energy use of the United States.
While traditional geothermal energy relies on finding natural pockets of hot water and steam, EGS fractures the hot rock, circulates water in its system, and uses the steam created from the process to create electricity in a turbine.
The investments will go towards three institutions: AltaRock Energy, Potter Drilling, and the Southern Methodist University Geothermal Lab.
Google’s funding may just be the push we need to really get geothermal off the ground, once again proving that government funding and initiatives can’t do everything. Substantial change can only come when private investors and corporations decide to help out—whatever their motives may be.
More Posts on Geothermal Energy:
- Germany Creates Boom In Geothermal Electricity
- Harness A Volcano To Power Your Town
- Geothermal: It Ain’t Sexy But It Sure Is Smart
With Google’s spotlight on geothermal, investment in that sector is bound to soar. (And this comes right after T.BoonePickens puts his money behind wind energy!) Stock peddlers are bidding up websites like geothermalinvesting.com and investinginwindpower.com, to get the word out to the masses. If Congress steps in with more incentives (which they will under Obama), the sky is the limit for these energy plays.
Substantial change could come about by the government IF the government actually acted. The problem there is that we’ve had a Republican Congress for 14 of the last 16 years and we’ve had a Republican President for the last 8 years. No Republican lawmaker wants this kind of technology, not when it would mean taking money out of the hands of the oil companies.
With a backing like Google…real change looks realistic. Hopefully this will get other giants to invest, if they know what good for them.
The nice thing about Google investing in geothermal is the fact that private industry is trying to do something about the energy crisis. Geothermal is a good direction for power generation.
I would say that the biggest hurdle of both geothermal and wind is the transmission line infrastructure. That and we haven’t heard from the coal fired electrial plant types. Citi recently funded numerous coal fired powerplants and the petro/coal big will not just passively by and let this happen. Watch for increased propaganda from those quarters seeking to debunk global warming and carbon issues. This should be interesting.
SO geothermal energy can be used for different purposes? It can even be used to produce hydrogen from water? Just like solar panels or electricity? Is it the heat energy or can it be used directly as energy?
$10m? I think we’re going to need a little more than 10 bars if we are to ever get out of this rut. The only way you get giants interested, is by offering them bait, this 10 million dollar worm-on-a-hook looks dismal.
If google thinks it will work well, it will most likely work well.
anyone know if they bought shares of certain companies for this technology or what?
[...] Google Investing Over $10 Million in Geothermal Energy Geothermal energy has finally hit the big time. Google.org, the philanthropic arm of Google, announced today that it is investing $10.25 million in an energy technology called Enhanced Geothermal Systems (EGS). The funding will also go towards geothermal resource mapping, information tools, and a geothermal energy policy agenda. Google Investing Over $10 Million in Geothermal Energy : CleanTechnica [...]
googel must be crazy