WHY DID AUSTRALIAN GEOTHERMAL COMPANIES ALL FAIL IN THE PAST???
Several Geothermal development companies were established in Australia from around 2000 and the Australian Government made provision for Geothermal tenement applications. Some geothermal developers took up tenements with the plan to develop geothermal for electricity production and some tried to drill, but all went broke and all tenements were eventually handed back.
High Drilling Costs - All of these companies either planned to or did use oil and gas drillers. The slow drilling methods and day rate charges used by oil and gas drilling services are simply too expensive for geothermal energy development.
Twin Well Geothermal Systems - All previous geothermal development plans were to use the twin well system. Two wells are required for each production well with this design, adding to the capital costs and even more damaging, the requirement for fracking to create or improve communication between these wells. Production pumps must be set deep in the well. This means the pumps have a very short life, the energy required for pumping is very high, production is stopped every year for several weeks to replace pumps and contaminated geothermal brine is brought to the surface which corrodes all of the casing, heat exchangers and piping, all adding to the cost of production.
Low sale price for electricity - Most geothermal exploration sites would have required long and expensive transmission lines to be installed from the generators to the market. Failed Australian geothermal developers focused on developing geothermal resources prior to establishing a market for their product. Even if power purchase agreements were secured they were with competing electricity distributors in an unregulated market and the prices offered were unviable
DOES GEOTHERMAL DAMAGE THE ENVIRONMENT?
Good Water Energy single well geothermal systems will not damage the environment. No fracking is required, no extraction of potentially toxic geothermal fluids are extracted, there is no emission of toxic steam into the atmosphere and there is no re-injection of geothermal brine into shallower ground reservoirs that can potentially harm the shallow fresh water reservoirs. However, the twin well geothermal systems used in most parts of the world do have the potential to harm the environment in many ways.
DOES GEOTHERMAL DRILLING AND EXTRACTION CAUSE EARTHQUAKES?
Good Water Energy single well systems do not cause earth quakes. Only twin well geothermal systems that required fracking can cause earth quakes.
ISN'T SOLAR ALREADY MEETING RENEWABLE ENERGY REQUIREMENTS?Solar electricity is definitely helping to reduce our CO2 emissions but with solar energy only producing electricity during daylight hours or when there is no overcast blocking sunlight, a baseload electricity supply is still required. Increasing battery storage can only store limited energy and batteries are both expensive and un-healthy for the environment. We are not saying Solar is bad, if Australians want to invest in solar panels and batteries, then savings can be achieved on the average household power bill. Consideration should be given to fire risk, environmental damage from solar panel manufacturing, potential hail damage, battery disposal and to Government policy changes that could stop Solar Electricity from being sold to the grid from home solar systems.
WHY NOT NUCLEAR POWER?There is no disputing that Nuclear power is a low cost method of generating electricity. As low as $0.02c per KW in some countries. The problem is, where is the nuclear waste going to be stored? What happens if there is damage from earthquakes, sabotage, or equipment failure? Are we prepared to risk our country for generations to come? Mining is required for the fuel and there is no guarantee the price of uranium will remain stable or if mining of the toxic fuel will be permitted in the future.
WHY NOT WIND POWER?
Similar to Solar energy, wind power to generate electricity is not a continuous energy supply and batteries or pumped hydro are required to store energy when the wind is not blowing. The fluctuating electricity supply from wind generators causes major problems to the power grid and the turbines themselves have an environmental impact. A baseload electricity supply is still required and Geothermal energy is the only viable baseload renewable energy that does not produce CO2 Emissions and does not damage the environment.
CAN GEOTHERMAL ENERGY WORK FOR REMOTE COMMUNITIES?Yes, every community in Australia has geothermal energy potential with Good Water Energy’s technology and systems. Geothermal power and water plants located at communities would reduce the long transmission line requirements which are a major fire risk and loose much of the electricity during transmission.
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