ECONOMIC ANALYSES OF GEOTHERMAL ENERGY DEVELOPMENT IN CALIFORNIAnVolume 2. Cost/Benefit Analysis of Government Program Alternatives Regarding Hot Water Geothermal Power

摘要

In the course of this study, we have arrived at a number of general insights. The most sensitive variable affecting the desirability of hot water hydrothermal power appears to be the relative costs of such hydro-thermal power and alternate base-load power:the odds are about even that hydrothermal power will be economically attractive. If it does prove economical, current hot water hydrothermal reserves are sufficient to make a major contribution to future electrical-capacity growth in California, and potential resources are much larger.nThis report discusses in turn each of the three issues that govern¬ment now faces. A major factor affecting both the demonstration plant decision and the R&D decision is the expected value of the benefits of hot water electric power in California. This overall benefit calcula¬tion is discussed briefly in Chapter II and is described in detail in Appendix A, based on such factors as the ultimate size of hot water hydro-thermal resources, the rate of their discovery, the future cost of elec¬tricity from these sources, the costs of base-load electricity from alternative sources, and the rate of construction of new base-load ca¬pacity.