Alternative Power Sources Geothermal Energy
To encourage these geothermal projects and others, Ritter, the DOE and the Colorado Housing and Finance Authority in December announced two new programs that will finance energy-efficiency improvements in commercial buildings and renewable energy businesses in the state. The Green Colorado Credit Reserve is expected to serve more than 160 businesses and generate $7 million in new lending, while the Governor’s Energy Office Revolving Loan Program has set aside $13 million to help with large-scale retrofits or companies whose products directly impact the renewable energy sector in Colorado.
Alternative Power Sources Geothermal Energy
Fortunately, with today’s advancements in technology such as binary cycle plants and enhanced geothermal systems (EGS; where rock is artificially fractures to allow for more permeability in the rocks and more flow/heat transfer) many new geothermal resources may be unlocked in the near future. Geothermal power is not likely to ever completely replace fossil fuels, however combined with other renewable sources of energy it has the potential to contribute to a much larger percentage of the world’s energy consumption.