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Geothermal EnergyBy: Billy Simon
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DEFINITION
Geothermal Energy: is thermal energy generated and stored in the earth
Thermal Energy: is energy that determines the temperature of matter
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COLLECTION OF GEOTHERMAL ENERGY
Dry Steam Plants- directly use geothermal steam to turn turbines
Flash Steam Plants-pull deep, high pressure hot water into lower pressure tanks and use the resulting flashed steam to drive turbines
Binary- Cycle Plants- pass moderately hot geothermal water by a second fluid with a much lower boiling point than water. This causes the second fluid to flash to vapors driving the turbine.
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PRO’S OF GEOTHERMAL ENERGY
Sustainability: it is a globally sustainable energy source
Availability: emerging technologies will continue to make it available in more areas
Cleaner: it is, on average, a cleaner energy source than fossil fuels
Safety: it is less dangerous, to develop and use than fossil fuels
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QUESTION?
Is it more cost efficient to build a geothermal power plant compared to a power plant that uses natural gas?
How many years will it take for the pay back of the geothermal power plant to equal the cost of fuel used by a natural gas power plant?
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DATA 1
Cost to build a Geothermal Power Plant?
$3,400 per kw installed A 100 mw Power Plant would cost
$340,000,000 Cost to build a Natural Gas Power
Plant? $1,200 per kw installed A 100 mw Power Plant would cost
$120,000,000
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DATA 2
It takes 7cubic ft. of natural gas to produce 1 mw for an hour
7000 cubic ft. of natural gas = 100 mwh Natural gas prices: 1000 cubic Ft. = $7.00 7000 cubic Ft. * $7 = $49,000 of fuel per
hour $49,000 * 24 * 365 = $429,240,000 It would cost $429,240,000 a year to fuel a
power plant with natural gas
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DATA 3
A Geothermal Power plant cost $340 million to build but doesn’t have to pay for fuel.
Leading to a cost of $340 million overall
A Natural gas fueled power plant cost $120 million to build but it cost $429,240,000 annually to purchase natural gas to fuel it.
Leading to a cost of $549,240,000 overall
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RESULTS
I found that within a year the Geothermal power plant would be more cost efficient than a natural gas power plant.
It would save approximately $200 million in the first year.
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LIMITATIONS
I assumed the power plants were operating 24 hours a day, 7 days a week
I also assumed that both power plants had comparable maintenance costs
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CONCLUSION
Geothermal energy from the earth is a cleaner and cost efficient form of energy
More geothermal power plants should be built in order to help prevent pollution at a cheap cost
Questions?
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REFRENCES "Geothermal Basics - Power Plant Costs."
Geothermal Energy Association. Web. 29 Mar. 2011. <http://www.geoenergy.org/geo_basics_plant_cost.aspx#gas_coal>.
Ristinen, Robert A., and Jack J. Kraushaar. Energy and the Environment. 2nd ed. N.p.: John Wiley & Sons, Inc., 2006. N. pag. Print.
"Electric Power & Utilities: 1 Megawatt Hour Sale Price USA, Mw Power Plant, Gas Power Plants." AllExperts Questions & Answers. Web. 29 Mar. 2011. <http://en.allexperts.com/q/Electric-Power-Utilities-2405/2009/3/1-Megawatt-Hour-Sale.htm>.