Argument: Geothermal energy is cost-effective for heating and cooling spaces
"A CLEAN ENERGY FUTURE FOR THE UNITED STATES: THE CASE OF GEOTHERMAL POWER". Testimony by the President of Iceland Olafur Ragnar Grimsson at a Senate Hearing Committee on Energy and Natural Resources". US Senate. 26 Sept. 2007 - 4.3 Benefits of using geothermal heat instead of oil The economic benefits of the policy of increasing the utilization of geothermal energy can be seen when the total payments for hot water used for space heating are compared to the consumer costs of oil.
Direct annual savings stood at a peak level from 1980 to 1983, about $200 million per year. They rose above $200 million in 2000, and savings continue to climb as oil prices increase. In 2000, the present value of the total savings between 1970 and 2000 was estimated at $8,200 million or more than three times Iceland’s national budget in 2000. The economic savings garnished by using geothermal energy are substantial, and have contributed significantly to Iceland’s prosperity.
Amy Perry. "Geothermal: Engineer Says Systems Can Lower Costs". School Construction News. 12 Nov. 2007 - Schools across the United States are turning to geothermal to heat and cool buildings, lower operating and maintenance costs, improve energy efficiency and provide classroom comfort.
Using a heat exchanger, schools can pull heat from the earth during the winter to raise indoor temperatures or pull heat out of the building and discharge it into the ground during the summer to cool interiors.
School Construction News spoke with Tom Perry, director of engineering services for Boston-based Shawmut Design and Construction, about the types of geothermal systems that are available, how much they can save schools on energy and maintenance costs, and some of the challenges facing schools when installing a new system. Perry has more than 27 years of construction experience, including 22 years of working with mechanical systems. He is the leader of Shawmut's Green Building Committee and an active member of the American Society of Heating, Refrigerating and Air-Conditioning Engineers.
Q: Why is geothermal technology a good idea for schools?
A: It's considered very cost-efficient, when compared to conventional HVAC systems. It's the most efficient system out there. You will save money in operating costs, and that's attractive to schools that have to both manage and minimize those long-term costs. It may have an initial investment that may be more than a conventional system, but the savings that you get from the operating costs and lower maintenance costs will quickly pay back that initial investment.
"Geothermal Competitive in Markets" - The price of petroleum and natural gas remained lower in the international market and monopoly management on electricity industry was broken down in many countries making the geothermal energy faced with challenges from the market. However, geothermal power generation is still the suitable generation program with its advantage of lower cost.
"A CLEAN ENERGY FUTURE FOR THE UNITED STATES: THE CASE OF GEOTHERMAL POWER". Testimony by the President of Iceland Olafur Ragnar Grimsson at a Senate Hearing Committee on Energy and Natural Resources". US Senate. 26 Sept. 2007 - "it is cost effective: The cost of electricity produced with geothermal energy in the US is expected to be between five and eight cents per kWh. This is more expensive than the cost of our geothermal power in Iceland which is closer to two or three cents, but according to a new market report from Glitnir Bank it is still far lower than the cost of energy from solar or other renewable sources. This would represent a significant saving for individuals and communities."