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.
