NewEnergyNews: QUICK NEWS, October 26: GEOTHERMAL TAKEOVER?; WIND DEALS BEAT NAT GAS; UTILITIES DISCOVERING SOLAR

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    Monday, October 26, 2015

    QUICK NEWS, October 26: GEOTHERMAL TAKEOVER?; WIND DEALS BEAT NAT GAS; UTILITIES DISCOVERING SOLAR

    GEOTHERMAL TAKEOVER? Geothermal Energy Could Soon Stage A Coup In Oil And Gas

    Gaurav Agnihotri, 21 October 2015 (OilPrice.com)

    “Geothermal energy is one of the most widely available green energy sources in the world today. In spite of its availability, its consumption is almost miniscule when compared to wind and solar energy mainly due to high drilling costs…Oil and gas drillers can play an important part in developing geothermal energy…Every single barrel of oil also brings out close to seven barrels of boiling hot water which can be utilized to generate electricity through geothermal turbines…The current [oil] market turmoil has created a once in a generation opportunity for savvy energy investors…Whilst the mainstream media prints scare stories of oil prices falling through the floor smart investors are setting up their next winning oil plays…A report released in April this year stated that Continental Resources and Hungary based MOL group were testing a system that could generate electricity by using hot water that is present in the oil well. With close to 25 billion gallons of water used by U.S. drillers on an annual basis, this system (if developed commercially in the near future) could generate electricity, which would be the equivalent to three coal fired plants running 24 hours a day, thereby reducing overall costs…” click here for more

    WIND DEALS BEAT NAT GAS Xcel CEO: Wind energy cheaper than natural gas

    October 23, 2015 (Bloomberg News via Finance & Commerce)

    “Xcel Energy Inc., the biggest U.S. provider of wind power, expects long-term contracts for the technology to beat the cost of natural gas, another sign of the rapid transformation of the power market…[Xcel] is receiving bids for 20-year power-purchase agreements at about $25 a megawatt-hour for wind energy, Chief Executive Officer Ben Fowke said…While gas prices are close to historic lows, he doesn’t see them remaining there forever, and Xcel expects prices for electricity from the fossil fuel to be closer to $32 a megawatt- hour over the same period…Fowke has plans to add 1,600 megawatts of wind energy over the next 15 years or so, partly to replace output from at least two coal-fired plants that are being retired. He also expects to exceed requirements in its largest states, Minnesota and Colorado, to get 30 percent of Xcel’s power from renewable resources…” click here for more

    UTILITIES DISCOVERING SOLAR How Utilities Are Profiting From Solar Energy; Instead of seeing it as a threat, utilities are finding ways to partner on solar developments.

    Travis Hoium, October 24, 2015 (Motley Fool)

    “For years, the solar industry has been creeping up behind the electric utility industry. At first, it was a small nuisance that utilities had to deal with but rapid cost cuts and growth made it a threat many utilities could no longer ignore…[Some utilities are now finding ways to profit off residential and commercial-scale solar. The ones that do will pave a path to long-term profit and lower the risk in their business model…Utilities have long bought solar energy from solar projects, but until recently they weren't big buyers of projects themselves. But that's changed recently as utilities see the long-term cash flows and low risk as a model that fits well within a utility…The next solar boom to watch is in community solar. These are projects built around cities that residents can buy electricity from and utilities usually play a major role in their operations. It's like buying power from the solar system…on your roof, except the project is built in a field instead of on a roof…” click here for more

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