Future Scenario Development from Disruptive Exploration Technologies and Business Models in the U.S. Geothermal Industry
Conference
·
OSTI ID:1357743
With recent trends toward intermittent renewable energy sources in the U.S., the geothermal industry in its current form faces a crossroad: adapt, disrupt, or be left behind. Strategic planning with scenario analysis offers a framework to characterize plausible views of the future given current trends - as well as disruptions to the status quo. To inform strategic planning in the Department of Energy's (DOE) Geothermal Technology Office (GTO), the Geothermal Vision Study is tasked with offering data-driven pathways for future geothermal development. Scenario analysis is a commonly used tool in private industry corporate strategic planning as a way to prioritize and manage large investments in light of uncertainty and risk. Since much of the uncertainty and risk in a geothermal project is believed to occur within early stage exploration and drilling, this paper focuses on the levers (technical and financial) within the exploration process that can be pulled to affect change. Given these potential changes, this work first qualitatively explores potential shifts to the geothermal industry. Future work within the Geothermal Vision Study will incorporate these qualitative scenarios quantitatively, in competition with other renewable and conventional energy industries.
- Research Organization:
- NREL (National Renewable Energy Laboratory (NREL), Golden, CO (United States))
- Sponsoring Organization:
- USDOE Office of Energy Efficiency and Renewable Energy (EERE), Geothermal Technologies Office (EE-4G)
- DOE Contract Number:
- AC36-08GO28308
- OSTI ID:
- 1357743
- Report Number(s):
- NREL/CP-6A20-66670
- Country of Publication:
- United States
- Language:
- English
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