Archive for October, 2009
Energy Star tax credits on heat pumps available through 2016
Federal tax credits of up to 30% are available for energy upgrades in private homes, and more extensive upgrades to heating and cooling systems – including geothermal – have no upper limit. The credits for lower-end improvements range from 10% to 30% with a $1,500 maximum, and these credits on items like insulation, windows, etc, [...]
U.S. Energy files registration statement
In Wyoming, U.S. Energy Corp., a natural resources exploration and development company with interests geothermal among others, filed Form S-3 universal shelf registration statement with the Securities and Exchange Commission. Once the filing is declared effective by the SEC, USE may offer and sell, from time to time in the future, up to $100 million [...]
Funding slows Kenyan promise on rural electricity, geothermal development
In Kenya, the government says it will miss its goal of boosting connections to the national grid in rural areas to 20% by the end of 2010 due to delays and lack of funds. East Africa’s biggest economy set out in 2004 to raise the coverage rate gradually from 4% at that time all the [...]
Entire mixed-use development will feature geothermal energy
In Colorado, groundbreaking has taken place on a development that will include 80 homes and 19,000 square feet of commercial space. Called Union Place and located in Fort Collins, the development will feature geothermal heating and cooling for all residential and commercial buildings. Union Place is the first mixed-use, residential and commercial development to receive [...]
Magma makes Cleantech 10
In Canada, Magma Energy Corp. found itself number four in the 3rd Annual Cleantech 10 list compiled by Corporate Knights, a Canadian-based media company. The Cleantech 10 is Corporate Knights opinion of Canada’s best publicly and privately held companies in the Cleantech industry, covering a range of sectors in the green economy.
DOE awards nearly $9.2 million for drilling tech
In Washington, of $151 million in grants announced by the DOE for energy research, $9.15 million was awarded to Foro Energy Inc. of Littleton, CO for the development of new geothermal drilling technology that would help access geothermal energy in deep, hard basement rock. The research would develop a hybrid thermal/mechanical technology that would drill [...]
Two new geothermal projects proposed near Fallon, NV
In Nevada, the U.S. Bureau of Land Management will conduct an environmental review of and produce a formal environmental impact statement for proposals to build at least two new geothermal plants in Churchill County. The proposals for the Salt Wells Energy projects come from NV Energy, Oromat Technologies and the Vulcan Power Co. In total, [...]
EDC takes over Tongonan, Palinpinon plants
In the Philippines, Energy Development Corp. has on assumed operations of the 112.5 MW Tongonan 1 and 192.5 MW Palinpinon geothermal power plants. This after the company paid the Power Sector Assets and Liabilities Management Corp. $78 million representing 40% of the purchase price and $7 million for the purchase orders, rental, option price, performance [...]
This week in International Geothermal Opinion: Rethinking the investment risk
Giles Parkinson of the Australian, says that while geothermal energy is now characterized as unproven and thus “an over-the-horizon base-load technology,” by 2020, it might not just be cheaper than oil and gas and other competing base-loads such as carbon capture and nuclear, geothermal will also carry significantly less investment risk. “And if that’s not [...]
Eighteen Philippines firms get 87 renewable energy deals
In the Philippines, the Department of Energy has awarded 87 renewable energy contracts to 18 companies which will invest $1.93 billion for the development of geothermal, biomass, solar, hydropower, ocean and wind energy resources in line with Republic Act 9513 or the Renewable Energy Act of 2008. The new contracts include five conversions from existing [...]
