This is Australia’s nuclear energy.
He cites the potential of harvesting geothermal energy from Australia’s hot rocks, near the earth’s surface. Australia’s geothermal industry is growing with about 400 geothermal tenements nationwide and $1.5 billion in work programs underway, according to the report.
In particular, Cooper Basin, a sedimentary geological area located mainly in the northeastern South Australia and extending into southwestern Queensland, holds energy potential, according to the report. And it’s an area companies like Sydney, Australia-based Origin Energy are already tapping into. In 2008, the company upped its investment in a geothermal joint venture it owns with Milton, Australia’s Geodynamics (see Origin Energy puts more cash into geothermal venture).
By 2050, the report states, geothermal energy could cut one-quarter of emissions coming from electricity generation. It also estimates if 1 percent of Australia’s geothermal energy was utilized, it could provide more than 26,000 times the country’s annual energy consumption.
Via – Cleantech