Iceland Drills Three Miles Into Volcanoes to Produce Clean Energy

Record-breaking project could produce 10 times more energy than gas or oil extraction

Iceland is harnessing volcanic heat to produce clean energy in a pioneering new geothermal technology project.

Energy company HS Orka has drilled down three miles into the earth near the country’s famous Blue Lagoon spa in the Reykjanes region.

Geothermal Bill Closer to Becoming Law

Proposed legislation that would diversify California's energy portfolio by requiring energy retail sellers to procure 500 megawatts of electricity from baseload geothermal power plants in the next 10 years continues to move through the state Legislature.

Senate Bill 1139 advanced from the Assembly Appropriations Committee today and is expected to go before the full Assembly for a floor vote sometime before the Legislature's end-of-the-month voting deadline. 

Upcoming Event: GEA International Geothermal Showcase in Washington D.C. on Tuesday, April 22

Representatives from more than 30 countries will be coming together with Washington leaders for the GEA International Geothermal Showcase in Washington D.C. on Tuesday, April 22, at the Ronald Reagan International Trade Center. The Showcase will examine the future outlook for geothermal markets and the policies driving geothermal development.  The Showcase is held with support from the U.S. Trade and Development Agency, the Overseas Private Investment Corporation, the U.S. Agency for International Development, the U.S. Department of State, the International Trade Administration, U.S. Energy Association, Export-Import Bank of the U.S., Inter-American Development Bank, and the U.S. Department of Energy Geothermal Technologies Office.

GEA, the trade association for the geothermal industry, will issue its new U.S. and International Market Update exclusively to attendees of the Showcase. The Update reports that the international geothermal power market is booming, with nearly 700 geothermal projects under development in 76 countries. And after a recent lull in production, the United States is poised to experience significant growth from new initiatives in Nevada, California and Oregon.

For more information 

Hawaii bills aim to reduce oil use, energy costs

Legislation before Hawaii's governor could expand geothermal energy production across the state.

The pending measures could increase the geothermal output on all islands by amending the Hawaii State Planning Act to encourage development of geothermal energy on state and public trust land.

USA: Extending the Renewable Energy PTC

Rep. Dave Reichert (R-WA) and Earl Blumenauer (D-OR) have introduced legislation aimed at extending the Production Tax Credit, or PTC. 

First conceived in 1992 as part of the Energy Policy Act (H.R. 776), the PTC has been renewed year after year and also incorporated into the Energy Policy Act of 2005 as part of that Act’s Renewable Energy Production Incentives. The PTC currently provides a 2.2-cent per kilowatt-hour (kWh) on wind, closed-loop biomass, and geothermal resources for the first decade of a renewable energy facility’s life. Other renewable forms of energy receive a tax credit of 1 cent per kWh.