Australian ”hot rocks” offer 26,000 yrs of power

SYDNEY (Reuters) – Australia scientists estimate that only one percent of the nation’s untapped geothermal energy could produce 26,000 years worth of clean electricity.

The Australian government announced on Wednesday a A$50 million (US$43 million) project to help develop technology to convert geothermal energy into baseload electricity.

“Geothermal energy which is sometimes known as hot rocks has got a huge potential for Australia, both as a solution to climate change and in terms of national energy security,” said Resource Minister Martin Ferguson.

Australia is the world’s biggest coal exporter, with coal used to generate about 77 percent of its electricity, but Australia has a renewable energy target of 20 percent by 2020.

To produce power from geothermal energy, water is pumped below ground where it is heated and the heat energy used to generate power.

Reuters