There is plenty of potential for this project as according to scientists there exist about 2,500 MW of potential geothermal power reserves in Northern Nevada alone. Nevada has already been called the “Saudi Arabia of Geothermal” energy by a local Senator. Currently there are already 240 MW of geothermal power up and running. There is however now a need to upgrade the transmission grid as companies are looking to move and supply California with a “green gigawatt”. Seven companies have already been selected. Currently already Sierra Pacific Resources and Southern California Edison Company are buying power from Vulcan. The current transmission lines are antiquated according to Vulcan and need to be upgraded in order to grow the business according to a Vulcan board member.
G3 Plan transmission economics are very compelling,” said Vulcan board member Richard Rodgers, a former senior banker at Bank of America. “Geothermal is a bargain for California, particularly when compared to new gas fired power, believed to cost $0.096 per kWh. The first 1,000 MW of new geothermal could justify building about $4 billion worth of grid upgrades and doubling that output justifies $8 billion in upgrades.”
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