Economic Impact Analysis for EGS Geothermal Project

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Last modified on July 22, 2011.

Project Title Economic Impact Analysis for EGS
Project Type / Topic 1 Recovery Act: Enhanced Geothermal Systems Component Research and Development/Analysis
Project Type / Topic 2 Geothermal Analysis

Project Description This proposed study will involve studying the impacts associated with jobs, energy and environment (as a result of investments in geothermal industry and specific EGS technologies) through the creation of a Geothermal Economic Calculator tool (GEC). The study will cover Enhanced Geothermal Systems (EGS), conventional hydrothermal, low temperature geothermal and coproduced fluid technologies resulting in electric power production. The GEC created will be capable of helping end users (public and the industry) perform region specific economic impact analyses using a web platform that will be hosted by EGI for different geothermal technologies under EGS that will be used for electric power production.
State Utah
Objectives Carry out an economic impact analysis study and develop a GEC tool by performing geothermal systems analysis and study the impacts of specific technology improvements on employment, energy and environment.
Awardees (Company / Institution) University of Utah

Awardee Website http://www.egi.utah.edu/











Funding Opportunity Announcement DE-FOA-0000075

DOE Funding Level (total award amount) $603,230.00
Awardee Cost Share $150,930.00
Total Project Cost $754,160.00



Principal Investigator(s) Raymond A. Levey, University of Utah
Other Principal Investigators Varun Gowda, University of Utah

Targets / Milestones Results from such a study will be beneficial in assisting the policy development, technology development and will help increase capital investments in technology to ensure as per the objectives of the Recovery Act to revive the renewable energy industry. Further, this will pave way for the geothermal energy industry to contribute a significant portion to the nation’s overall energy portfolio thereby leading the United States one step closer to achieving energy sustainability and energy independence.




Location of Project Salt Lake City, UT



Impacts Strong team to produce estimation tool for broad audience Economic Impact Analysis for EGS. The project will carry out an economic impact analysis study, develop a Geothermal Economics Calculator (GEC) tool by performing geothermal systems analysis, and study the impacts of specific technology improvements on employment, energy, and environment. The study will cover Enhanced Geothermal Systems (EGS), conventional hydrothermal, low temperature geothermal, and coproduced fluid technologies resulting in electric power production.
Funding Source American Recovery and Reinvestment Act of 2009

References EERE Geothermal Technologies Programs[1]

References

  1. EERE Geothermal Technologies Programs