DOE To Invest US $90 Million in Advanced Geothermal Energy

[jpak]

http://www.renewableenergyworld.com/rea/news/story?id=52890

The U.S. Department of Energy (DOE) has issued a Funding Opportunity Announcement (FOA) for up to US $90 million over four years to advance the research, development and demonstration of next-generation geothermal energy technology.

DOE said that it plans to make up to 26 awards through this competitive funding opportunity, which is open to industry and academia. Funding is available at US $10.5 million for fiscal year (FY) 2008. Subject to annual Congressional appropriations, up to an additional US $30 million is expected to be available for awards in FY 2009 and US $49.5 million in FY 2010.

A minimum of 20 percent private sector cost share is required for R&D projects and funding for the awards is subject to Congressional appropriations. Recipient cost share requirements for demonstration projects will be up to 50 percent and vary by both the phase of the award and the activities within a particular phase.

<more>

[kestrel91316]

1. Frankly, I'm stunned. I didn't think the Bush administration allowed

funding of ANY renewables.

[phantom power]

2. $90 million is a decent approximation to 0% of the federal budget: 0.0029%

[kestrel91316]

5. Well, we both know $900 million would be nore appropriate.

I'm shocked it's not $90k.

[Zachstar]

3. *Yawn*

Get serious please DOE

[Nederland]

4. I love my geothermal system

I have a horizontal loop geothermal HVAC system for my house and love the fact that my utility bill in the winter is 1/5 of my neighbors. Not exactly sure what this money is going to go too because "geothermal" can refer to a lot of things. As far as residential systems go, no additional research is needed. Existing products work just fine.

[madokie]

6. I have an unused 6 inch diameter well that i've given thought to

to use in helping to keep our house cool in the summer and warm in the winter.

[Nederland]

7. Vertical systems are better

If you have an existing well you can use that's awesome. I worked with these guys: http://www.waterfurnace.com/residential.aspx

[madokie]

9. I just marked that so I can check them out tonight when I can't sleep

it'll give me something constructive to do. I'm in the process of remodeling a mid 30's built house and our plan is to go with a heat pump central unit and that is when I hope to utilize the well. I see it as a next year project if all goes kinda as planned. We use wook pellets for heat but I could see how the heat pump would save us a lot of money here because we have a lot of time where the temperature will be rather warm but not enough to not have a fire at all so a heat pump would be great for those days as I think a heat pump would be cheaper to run than the pellets to burn are.

[IDemo]

8. These systems should be a requirement for all new home construction

A tad expensive, to be sure, but the energy savings should more than make it worth it in the long run.

[Nederland]

10. Here is the problem

I built my own house, and when you buid your own house the decision is a no-brainer. You are looking at spending and extra 10k-15k for a geothermal HVAC system. Wrapped into a 30 year mortgage, that means an extra $60-$100 bucks a month. Given that my heating bill is almost $200-$300 a month lower in the winter, and my cooling bill maybe $50-$100 lower in the summer, I'm saving money right off the bat. There is no payback period, I'm cashflow positive from day one. Like I said, its a no-brainer.

For a builder, it's also a no-brainer, but going the other way. You can dish out an extra 10k to 15k for a geothermal system, but nobody is going to pay that much extra money for it. As a result, builder don't put them in. Perhaps some sort of tax credit could help...