Powered by natural heat from the earth, geothermal energy is currently generated in 24 countries around the world. As a source of cheap and emissions-free base-load power, geothermal energy is the most appropriate form of large-scale energy production.
The full potential of geothermal energy as a major source of power in Australia is only now being recognised.
The Australian Federal Government, through Martin Ferguson, Minister for Resources, Energy and Tourism recently signaled the importance of geothermal energy to Australia. Minister Ferguson said:
“The early growth was going to be in wind power but the real breakthrough we need is in geothermal because it’s base-load reliable power…”
“A potential breakthrough here in the next 12 to 18 months is so important… otherwise we will find it challenging to actually get to [the stated Renewable Energy Target of] 20 per cent.”
High quality geothermal resources promise to deliver commercial quantities of electricity to major grids within five years.