GeoPower Economics 101

Note: The course can be attended as a stand-alone session but also provides an excellent way to introduce yourself to or refresh your knowledge of the geopower market before attending the "GeoPower Europe" conference on the following days.

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A 1-day introduction for non-engineers.

Course objectives

This one-day training course is designed to introduce the basics of geothermal power – the resource and the methods of harnessing it – along with its competitive positioning within the power and energy markets. In addressing the latter, the course will also briefly cover the fundamental concepts governing the supply and demand of power/energy, including the basics of power grids and the factors which determine popular economic measures such as levelised electricity cost (all with particular reference to geothermal as compared with other power sources, both fossil and renewable).  

The course can be attended as a stand-alone session or as an excellent way to introduce yourself to geothermal power before attending the "GeoPower Europe" conference on the following days.

Style

The course will be run in an informal manner which allows and encourages time for discussion and questions with answers, ensuring that participants get the most out of their day.

Approximate Timing

(Timings are approximate and include lunch plus morning and afternoon refreshment breaks)

Course Content*

Geothermal Energy Resources & Applications

• Different types of geothermal resource: locations, depths, temperatures, resource characteristics and sustainability issues.
• The fundamentals of power/energy markets and the role of geothermal within them, including: measurements and scales, power demand/supply and pricing, power plant types and competing energy sources.

• The Geothermal market: differing direct-use (heat) and power applications, including a review of current market sizes, characteristics and case studies.

Capturing and Exploiting Geothermal Energy

• Comparing geothermal power plant designs, including flash steam, dry steam, binary and combined cycle: how they work, why they differ and where/when they are suitable.
• Emerging technologies, including EGS - Enhanced geothermal (“hot dry rock”), mixed fluid and supercritical fluid cycles.
• Case Studies of the different types of commercial plants and pilot projects.
• Understanding limits on the sustainability of geothermal power generation.

• Geothermal CHP, plus smaller-scale and distributed heat and/or power applications

GeoPower Economics

• The key cost and investment issues surrounding geothermal power plants, including exploration, land requirements, plant development and ongoing operations.
• What are the key risks and unknowns in GeoPower investments?
• Levelised costs of GeoPower: identifying the most significant input variables and illustrating how each influences the economics of the project.
• Geothermal power economics in comparison with both fossil fuel and renewable power sources: how each may fit into the future power mix.
• The role of external factors in GeoPower economics, including regulatory policies and incentives.

(* Content may be subject to minor change if/where this enhances the course).

About Green Power Academy

Green Power Academy exists to provide the quality, impartial, informative and enjoyable training needed to increase and distribute knowledge and skills to green energy industry professionals.
Whether you are new to the industry, have recently changed jobs or simply wish to refresh your knowledge, our training should become a key part of your personal or company professional development programme.

About your trainer

Dr John Massey is Green Power Academy’s Training Director, with many years’ experience in developing and delivering training to senior business executives. His particular focus is on demystifying scientific and technological jargon and explaining new technologies within a business and market context that appeals and brings value to non-engineers.

He holds a 1st Class honours degree in Geological Sciences from the University of Cambridge, and a PhD from the Department of Earth Sciences, Open University. He has since worked in a number of commercial roles, involved in industry analysis and training and covering various new technology sectors including renewable energy, telecoms and IT.