Geothermal

Driven by the booming growth of generation from hydro, wind, and solar photovoltaics (PV), generation from renewables on a terawatt-hour basis is set to surpass that from natural gas and double nuclear’s share by 2016, becoming the world’s second-most important global electricity source after coal, according to a new report from the International Energy Agency (IEA).

One of the first enhanced geothermal systems (EGS) was connected to the U.S. electric grid this April, marking a major milestone for the fledgling technology that seeks to tap the enormous terrestrial heat potential deep within Earth’s crust using directional drilling and pressurized water.

Panelists at a House hearing today refuted varied claims concerning if and how increased natural gas and renewables generation pose widespread challenges to the reliability of the electric grid. Some pointed to ineffective rules in the restructured wholesale power market and the failure of conventional power plants as being more of a threat to grid reliability.

Public and private investment in solar, wind, and other renewables worldwide declined 11% in 2012 from an adjusted 2011 record of $302 billion, a new survey from Pew Charitable Trusts shows. Yet the global renewable sector still registered a record 88 GW of new nameplate capacity last year, and China reclaimed the lead in global renewables investments from the U.S., it says.

Bipartisan legislation introduced on Wednesday by a bicameral group of lawmakers seeks to give renewable energy project investors access to an existing corporate structure whose tax benefits are now only available to investors in fossil fuel–based energy projects.

Energy demand in Mexico, according to the Secretary of Energy (SENER), will increase by approximately 4% each year for the next ten years, and with it the potential for private sector growth in the industry. Download the report.

Two bills seeking to rapidly expand geothermal energy resources in the U.S. were reintroduced in the Senate last week.

Once a world leader in innovation and manufacturing of clean energy technologies, the U.S. now faces significant competitive challenges from Europe and Asia, and it lags behind other nations on measures that include renewables deployment, manufacturing, and innovation, a new report suggests.

The Federal Energy Regulatory Commission (FERC) on Thursday proposed four reforms intended to reduce the time and cost to process transmission interconnection requests from generating facilities of 20 MW or smaller. The reforms would boost reliability by increasing energy supply and remove hurdles in the development of new renewable power sources, FERC said.

North American shale gas was supposed to realign the generation fleet here and abroad (thanks to anticipated exports) far into the future. Turns out, that’s not exactly how the near term is shaping up. Despite stagnant (and even putrid) economies and legislative bodies in the U.S. and EU, there promises to be sufficient market volatility to keep everyone alert.