Sunday, November 11, 2012

Canada has massive geothermal energy potential

Canada has vast amount of different renewable energy resources at its disposal with geothermal energy certainly being one of the most interesting renewable energy options. The problem is that Canada's current clean energy policy fails to give renewable energy industry the boost needed to attract global investors and turn Canada into one of world's clean energy leaders.

The 2011 government report confirmed that Canada has excellent geothermal energy potential by having abundant geothermal resources that could be harnessed in years to come. It has been reported that the western and northern Canada have enough available geothermal resources to generate more electricity than the entire country now consumes.

The federal Geological Survey of Canada estimated that there are at least 5,000 megawatts of geothermal electricity available in B.C., Alberta and the Yukon.

What this means is that geothermal energy can (with the right policy) become an important renewable energy source in Canada. In terms of renewable energy development Canada has so far been mostly focused on hydropower but geothermal energy is yet another reliable clean energy source that could be used to diversify country's energy portfolio, improving its energy security and energy independence in the process by decreasing the need for expensive foreign fuel import.

These vast geothermal resources are major advantage over other countries and if Canada plays this card right it could soon become one of top countries on global geothermal map. 

Many people in Canada are very supportive of geothermal energy and they want to see country go for more geothermal energy projects in years to come.  Sadly, Canada's geothermal energy sector has failed to live to its high expectations and hasn’t really moved forward from few minor geothermal energy projects.

Canada has both the technology and knowledge to kickstart geothermal energy production. Geothermal resources not only generate clean electricity but can be also used to heat houses and other buildings.

The construction and drilling costs are still significant but once built geothermal power plants provide reliable source of clean electricity at costs comparable to fossil fuel fired power plants.