Canada has substantial potential for geothermal energy development. To date, development has all been for heating applications. … There is currently no electricity being generated from geothermal sources in Canada although substantial potential exists in the Canadian Cordillera.
Why is geothermal energy not used in Canada?
Electricity is produced from geothermal energy in many countries. … In Canada, we have extensive geothermal resources but no power plants. A key reason for this lack of development is resource uncertainty and the associated investment risk. The best geothermal resources are located in Western Canada.
Why is geothermal energy not used in Alberta?
Alberta is neither blessed by geothermal resources that would support large Natural Geothermal projects, nor is it burdened by relatively high electricity prices (having an abundance of both renewable and non-renewable fuel sources) that are required to underwrite more expensive geothermal projects.
Is geothermal energy possible anywhere?
Almost anywhere in the world, geothermal heat can be accessed and used immediately as a source of heat. This heat energy is called low-temperature geothermal energy. … Most pockets of low-temperature geothermal energy are found just a few meters below ground.
How much does geothermal energy cost in Canada?
More than 30,000 geoexchange systems are installed in residences and 6,000 in businesses across Canada. A system generally costs $20,000 to $25,000 for a home but can pay for itself in 3 to 10 years. The deeper the geothermal resource, the hotter the temperatures.
Is geothermal worth it in Ontario?
By harnessing the heat from the ground, a geothermal system reduces the dependence on fossil fuels and subsequently the building’s overall carbon footprint. The increased efficiency and lower consumption of electricity than conventional systems make geothermal systems a more cost-effective option in the long run.
How much does geothermal cost monthly?
The homeowner said he was paying $150/month for propane, and if we deduce the average geothermal kWh use it would be around $138/month, a savings of $12/month. In today’s dollars, the price of geo is 1/3 the cost of propane, so he would save $3,000 per year.
Is geothermal good Alberta?
According to the Canadian Geothermal Energy Association, there is a geothermal resource potential of 388,500 megawatts (MW) in Alberta that can be used under existing technical, structural and ecologic restrictions (with a 14% recovery rate.)
How much does geothermal energy cost?
The initial cost for the field and power plant is around $2500 per installed kW in the U.S., probably $3000 to $5000/kWe for a small (<1Mwe) power plant. Operating and maintenance costs range from $0.01 to $0.03 per kWh.