Economic Impact of the Geothermal Energy

“International Conference on Geothermal and other Energy Resources of Ladakh: Technological and Business Viability” was organised in Leh on 5 July 2010. The focus was on developing this form of renewable energy with the help of big and small projects alike. Though India began geothermal projects in 1970, geothermal energy could not emerge as a significant renewable energy option in the country. As per the estimates the geothermal energy can be harnessed to produce about 10 thousand megawatts of geothermal power in India. Even small projects of 5 kilowats can help to bring about rural electrification and thereby impact the economy and living standards. The need to ensure energy security raised the prospect of harnessing and developing renewable energy options. The focus should be on grid interactive and distributed renewable power, rural and urban applications, and industrial and commercial applications of such renewable power.
The Himalayan region is one of the most promising geothermal areas as it contains about 100 thermal springs and also falls in one of the most tectonically active zones.  The Puga Valley geo-thermal field in Jammu and Kashmir that is estimated to have a temperature of 240 degree centigrade at a depth of 2000 meters is considered to be highly potential. In the 1980s, the first pilot binary 5 kilo watt power plant was successfully operated by the Geological Survey of India at Manikaran in Himachal Pradesh.
Other South East Asian countries make substantial use of geothermal energy to generate power. Geothermal energy accounts for 21 per cent of total primary energy supply in Philippines and 3 per cent in the case of Indonesia. 17% percent electricity in Phillipines and 5% in Indonesia is generated through the effective use of geothermal energy.
Geothermal energy is considered to be the cleanest source of energy which is without smoke or environmental hazards. It is available throughout the year and has a minimal operating cost.