NYT writes about Islandsbanki´s Geothermal Energy Report
On the 11th of November, the On-line edition of the New York Times published an article on Islandsbanki´s Geothermal Energy Report.
The focus of the article is on the wast potentials of the USA to generate electricity from Geothermal Energy, which is estimated to be 517,800 megawatts compared to only 3,100 megawatts today. This would though only be possible with the development of new enhanced geothermal systems according to Islandsbanki´s report.
The main problem of this industry has been the large development cost and following the credic crisis, access to funding has been scarse. But with the new stimulus package presented by the US Government, banks might get back into the business with increased lending.
The NYT reporter interviews, among others, Alex Richter, in the Islandsbanki's Sustainable Energy team, wich comments on the possibilities of funding and other issues regarding the Geothermal Energy business in the US
The report is available online at: www.islandsbanki.is/energy.