Type:
Presentation
Link:
Presenter:
Dr. Catherine Hickson – Chief Geologist, Terrapin Geothermics; C.E.O., Alberta No. 1
Citation:
Hickson, C. Yellowknife Geoscience Forum 2018. (Presentation). Nov. 2018
Abstract:
Key factors for an economically viable project
Key factors affecting project costs:
• Drilling costs (depth and size)
• Plant development cost (reservoir size and type – flash vs binary)
• Piping distances for Direct-use
Three key factors needing more work are:
• Reduce uncertainty regarding size of geothermal reservoirs
• Estimate achievable brine flow rates
• Determine the commercial value of heat
Ability to obtain, low cost financing that recognizes the risk profile of geothermal; high risk investment dollars to fund early stage projects.
Economic viability:
• Price of electricity – how much is someone willing to pay?
• Ability to sell power.
• Price of thermal energy – what is the load and how much is it worth?
• Carbon offset credits
• cost of money
Power Purchase agreements must be available and provide incentives for dispatchable, base load power
Regulatory framework
Lack of long term vision and competition with solar, wind and natural gas generation.
The role of Government
What is needed from government for geothermal development?
• Creating a regulatory framework for development, including PPAs
• Recognition that geothermal resources will fill the basic infrastructure needs of the north and support continued development and occupation of the land (sovereignty).
• Like bridges, roads and highways, geothermal energy must be considered “infrastructure” and the costs born across the tax payer base of Canada. “What is good for the north is good for the rest of Canada.”
• Projects in Finland, Sweden, Denmark and elsewhere are proving EGS technology; Canada needs to get on-board and support geothermal.