Foundation for Geothermal Innovation

Designing a Global Geothermal Challenge

lawrencemolloy — Wed, 03 Jun 2009 01:35:58 +0000

The Lemelson Meeting

The full report can be accessed here.

It is possible to download a powerpoint a Public Presentation on the Global Geothermal Challenge.

(click on image to left to download) This report discusses the findings and recommendations that came out of a one day technical design meeting for specifying the parameters of a down hole geothermal pump. The report outlines the value, impact, structure and design of a multi-year multi-million dollar incentive prize to develop the next generation downhole geothermal pump. The report demonstrates the technical and market need for such a pump if geothermal is to gain commercial capacity beyond 5% of the U.S. energy budget

Among the findings and recommendations:

A geothermal incentive prize is needed to revitalize the industry
Existing pumps are limited to 190C, preventing high value hydrothermal resources in the 190 to 220C range from being developed.
The commercial demand for such a pump exists today and will approach a market demand of 482 pump sets per year by 2020. At $750,000 per set this would generate $360 Million/year in sales.

The full report can be accessed here.

It is possible to download a powerpoint a Public Presentation on the Global Geothermal Challenge. Following this report, the Foundation for Geothermal Innovation is seeking support from the Department of Energy for building out the full project design and taking the prize to launch in 2010.

Please feel free to contact Lawrence Molloy to learn more.

Downhole Pump Demand

lawrencemolloy — Tue, 19 May 2009 22:49:13 +0000

This analysis looks at the future demand of downhole pumps for geothermal power. The Global Geothermal Challenge is being created to design the next generation downhole geothermal pump. Through competition, pump companies, universities, and inventors will be given the opportunity to compete for a US$5 Million prize purse to be awarded in 2015. In conjunction with the prize will be an Advanced Market Commitment (AMC) for 100 pumps.
This US$ 75 Million purchase order will serve as the core incentive to innovators. The analysis shows that initial pump sales will be for hydrothermal applications, well before the EGS market develops commercially. It is estimated that if introduced in 2015 this new class of pump will approach sales of 482 units per year in 2020 or roughly $350 Million in annual sales. In the initial 10 to 15 year time horizon, over 95% of these pumps would be installed in hydrothermal applications which are in need of a robust downhole submersible pump. In tandem, at a small number of locations, these pumps will be installed in Enhanced Geothermal Systems (EGS) sites as it is commercialized.

Click here for the report.

For questions on this study please contact Lawrence.Molloy @ geothermalinnovation . org

The Global Geothermal Challenge

lawrencemolloy — Mon, 29 Dec 2008 18:40:07 +0000

The Global Geothermal Challenge is an incentive prize to commercialize a next generation geothermal downhole pumping system. Currently the effort is focused on designing the criteria for the pump as well as defining which teams can compete.

Electricity has been generated from geothermal sources since 1913 but it is limited in its technology and knowledge base. Currently, venture capital is pouring into the sector with an attempt to create a lateral industrial shift of both professionals and technology from the oil and gas sector. However, this effort is limited by intense oil and gas development and a retiring geothermal intelligentsia. In part, the prize will invigorate this sector.

The Foundation for Geothermal Innovation seeks to support the geothermal community with a program to accelerate geothermal innovation, but also bring new and young professionals to the industry.

Elevated temperatures in confined subsurface environments pose a unique set of challenges not encountered in other areas of energy retrieval. Technically, development is needed not only in pump technology but also in sensors, drilling techniques, resource characterization and stimulation. Many of these advancements can and will occur with the application of techniques from the oil and gas sector; however, one should not assume that it is a straightforward shift from oil and gas to geothermal.