As states like California look to improve their balance of supply and demand, ensuring they can meet the needs of their constituents even in moments of crisis, the stability of geothermal Power Purchase Agreements (PPAs) offers an attractive solution.Īmong renewable power sources, geothermal energy delivers the highest capacity factor - or the best ratio of actual energy output to possible energy output - because it does not rely on favorable weather conditions. Geothermal Takes the StageĮxtreme weather events and energy shortages in western states have added a fresh sense of urgency to the development of clean energy. These agreements help determine how much you ultimately pay for the electricity that charges your phone, fires up your television on game day, lights your home, and, in general, powers your life. Power purchase agreements are the contracts that allow utilities to procure electricity from power plants. This is a big deal in renewable energy circles, but why should it matter to us, the energy consumers across the country? Geothermal: An Energy Story in Three ChaptersĪmong numerous highlights in the National Renewable Energy Laboratory’s recently published Geothermal Power Production and District Heating Market Report, one in particular stands out: since 2019, 11 new geothermal power purchase agreements have been signed across four states.
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