The stalled Australian geothermal industry and local policy makers might find the latest analysis of the sector by the International Energy Agency particularly interesting.
The IEA has underlined the need for geothermal to play a vital role in cutting greenhouse emissions and predicted its share of the global electricity production could increase nearly 12-fold from 0.3 per cent today to 3.5 per cent in 2050. It's total capacity could be at 200 gigawatts, or nearly four times the size of Australia's entire grid. It could also provide 3.9 per cent of the globe's heat needs, for buildings and for greenhouses.
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As most investors know Australia's Hot Rock Energy / Geothermal sector has been clubbed to death by a lack of Govt incentives.... A flow through share relief scheme for our Hot Rockers could see investors return to this once vibrant sector.
I still hold
Petratherm.... but here in Australia we are absolutely spoiled for choice as we have some wonderful
Hot Rock stocks with
varying models based on the
world's best hot rocks that are massive, shallow and have lovely sedimentary blankets to insulate them.... The reason I have stayed in PTR is that they will be the first to have a commercial project here in Australia.... but do check out
Kuth Energy etc.
You can see at a glance what our govt has done to the sector
here. (Of course
GDY didn't help at all with their disaster prone program). It seems amazing that Australia has done so poorly as we even have govt. ministers that actually understand what we have and what we could achieve....
The Hon Martin Ferguson Minister for Resources and Energy
"The industry has a significant role to play in securing Australia's energy future"
"The potential of the geothermal industry in Australia is truly staggering"
Perhaps it is time for a HOT Rock Energy ETF?