How much does it cost to acquire, explore and develop a geothermal resource?
The costs affiliated with the development of geothermal projects depend on a variety of factors that include location, megawatt size, distance of the resource to the power infrastructure, and the type of geothermal resource (hot water or steam). Acquisition costs have ranged from $1 per acre to $14,000 per acre in the US. Exploration costs to feasibility range from $0.3 – $1.0 million per megawatt. All in, capital expenditure is estimated to be between $3-$4 million/MW, with roughly 30% for drilling, roughly 40% for the plant, and roughly 30% for all other costs.
Related Questions
- Why is it so important to establish a vision statement at the beginning, and to develop goals to guide the resource mapping process?
- Is there money available to offset the cost of installing a geothermal system in a new home?
- How much does it cost to acquire, explore and develop a geothermal resource?
