Government and Google get behind geothermal.
The Australian Government has announced a $50 million program to support geo-thermal energy development. The funding will help subsidise the high cost of drilling deep geothermal wells, financing proof-of-concept projects and thermal mapping.
Geothermal energy production involves pumping water up to 5 km underground, where it is heated by 'hot rocks' and the resultant heat energy used to generate electricity.
Prospective geothermal resources have been identified in every Australian state. The government hopes to see Australia's first commercially viable baseload geothermal power plants in place within four to five years.
At the time of the Australian announcement, Google publicly pledged to invest more than US$10 million on geothermal energy initiatives in the US.
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|Title Annotation:||geothermal energy development|
|Article Type:||Brief article|
|Date:||Oct 1, 2008|
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