Upcoming DOE Funding May Heat Geothermal Space

The Department of Energy deadline to submit the full application for an Integrated Enhanced Geothermal System (EGS) Research and Development Funding Opportunity Announcement (FOA) is April 30 at 5pm. That means awards up to $10 million, likely split among three winners, can be announced by the Fall. 

I'm interested to see the development of enhanced geothermal systems (EGS), a technology similar to fracking in that it requires injecting water into rock. My true concerns regarding geothermal power come from this similarity between geothermal and fracking. Therefore I'd like to see more studies into how the use of geothermal power may or may not result in an increased number of earthquakes or even upgrade the risk for contamination of the water supply. If these issues can be dealt with concretely or proven to be overblown, geothermal heat could have a place among the country's future energy mix. That would be great for industry giant Ormat Technologies (NYSE: ORA  ) , which has geothermal projects in Nevada, Hawaii, California, and recently received big supply contracts in Indonesia. 

3 stock picks to ride America's energy bonanza
Record oil and natural gas production is revolutionizing the United States' energy position. Finding the right plays while historic amounts of capital expenditures are flooding the industry will pad your investment nest egg. For this reason, the Motley Fool is offering a look at three energy companies using a small IRS "loophole" to help line investor pockets. Learn this strategy, and the energy companies taking advantage, in our special report "The IRS Is Daring You To Make This Energy Investment." Don’t miss out on this timely opportunity; click here to access your report -- it’s absolutely free. 


Read/Post Comments (1) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

  • Report this Comment On April 27, 2014, at 7:05 PM, 1dms wrote:

    SZYM recently introduced a new product called Encapso. Testimonials as to how much this product reduces costs of drilling for oil are eye opening. I would think this could be used for Geothermal as well. Should hear more on it at the May 5th earnings call.

    http://boards.fool.com/szyms-encapso-can-reduce-the-costs-of...

    Over a year ago I read about the results of an Arpa-e grant which was to develop a fiber laser unit for field use. Results are very promising. The grant was for use in Geothermal. The results caught the eye of at least Petobras so field units may start in oil fields but quickly become available to Geothermal.

    I wrote HTM IR and they said they are aware of both technologies and are interested. Thanks for following this field.

Add your comment.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2930805, ~/Articles/ArticleHandler.aspx, 12/18/2014 8:37:52 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement