HowStuffWorks "How Does Geothermal Compare to Other Energy Sources? " - 0 views
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Because the energy is generated right near the plant, it saves on processing and transportation costs compared to other types of fuel.
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The initial costs of geothermal energy are high -- wells can cost $1 to $4 million each to drill, and installation of a home geothermal pump system can run as much as $30,000
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However, a home geothermal energy pump can cut energy bills by 30 to 40 percent and will pay for itself within 5 to 10 years
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Geothermal energy is considered renewable because the heat is continually replaced. The water that is removed is put right back into the ground after its heat is used.
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The initial costs of geothermal energy are high -- wells can cost $1 to $4 million each to drill, and installation of a home geothermal pump system can run as much as $30,000 [sources: REPP, Consumer Energy Center]. However, a home geothermal energy pump can cut energy bills by 30 to 40 percent and will pay for itself within 5 to 10 years [source: Consumer Energy Center].
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about 2,700 megawatts of which is produced in the United States (the equivalent of burning 60 million barrels of oil each year)
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Not having to pay for transportation can lower the overall cost of geothermal energy.
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