Around the world, the potential for geothermal power is being recognized. Independent researchers with massive financial backing from government and private organizations are doubling their efforts to explore the geothermal power potential. Several of these projects promise that they can harness this energy from the earth’s core and make it available to the populace at an affordable price.
Two such projects are located near Pemberton. These geothermal power projects are promising in the sense that they say they are capable of generating energy from geothermal sources for only seven cents a KW hour. This is just slightly above the 5.8 cents to 6.1 cents a KW hour cost estimate of the dam project in site C.
A recent study on the monetary viability of geothermal resource in the B.C. area considered around nine most favorable geothermal sites in the region. Presently, there are no geothermal power plant projects in the B.C., however, the study noted the cost per KW hours for around nine areas would range from 6.9 to 7.1 cents. According to the strategic technology specialist from BC Hydro, Alex Tu these projects seem promising however, their cost estimates are still uncertain and possess a lot of risk.
According to the specialist, though these projects claim around seven cents for a KW hour, these ventures are still risky. The specialist further mentioned that all the geothermal in this region is looked at is quite uncertain and exhibits a high risk, however, if one can make the project possible then seven cents for a KW hours is a good price. Tu also mentioned that BC Hydro has always been open to the potential and power of geothermal as an alternative energy source, however, so far no geothermal energy projects have been submitted to the firm in any of its calls for geothermal power from independent power producers.