Optimal Extraction of Geothermal Energy

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This study is concerned with the optimal extraction of energy from a hot water geothermal field. In view of the relative "commercial" availability of the many energy sources alternative to geothermal, it is possible that a socially "best" extraction policy may not include producing geothermal energy as fast as the current technology will permit. Rather, a truly "optimal" policy will depend on, among other things, the costs and value of geothermal energy in the future and the analogous values of other energy sources. Hence, a general approach to this problem would make the policy contingent on pertinent information on alternative ... continued below

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Golabi, Kamal & Scherer, Charles, R. June 1, 1977.

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Description

This study is concerned with the optimal extraction of energy from a hot water geothermal field. In view of the relative "commercial" availability of the many energy sources alternative to geothermal, it is possible that a socially "best" extraction policy may not include producing geothermal energy as fast as the current technology will permit. Rather, a truly "optimal" policy will depend on, among other things, the costs and value of geothermal energy in the future and the analogous values of other energy sources. Hence, a general approach to this problem would make the policy contingent on pertinent information on alternative sources. A good example of this approach is given in Manne's (1976) Energy Technology Assessment Model, where he points out that "Each energy source has its own cost parameters and introduction date, but is interdependent with other components of the energy sector." (Manne (1976), p. 379). But by their large dimensions, such relativity macro-analyses tend to preclude a close look at the specific technology of a process is important in developing meaningful resource management models, we substitute for a macro model the increasing value over time of the energy extracted. In this contact we seek an extraction rate (and an economic life) that maximizes the net discounted value of the energy extracted. [DJE-2005]

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  • Report No.: UCLA-ENG-7715
  • Grant Number: None
  • DOI: 10.2172/860637 | External Link
  • Office of Scientific & Technical Information Report Number: 860637
  • Archival Resource Key: ark:/67531/metadc784714

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Office of Scientific & Technical Information Technical Reports

Reports, articles and other documents harvested from the Office of Scientific and Technical Information.

Office of Scientific and Technical Information (OSTI) is the Department of Energy (DOE) office that collects, preserves, and disseminates DOE-sponsored research and development (R&D) results that are the outcomes of R&D projects or other funded activities at DOE labs and facilities nationwide and grantees at universities and other institutions.

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Creation Date

  • June 1, 1977

Added to The UNT Digital Library

  • Dec. 3, 2015, 9:30 a.m.

Description Last Updated

  • Dec. 7, 2016, 6:33 p.m.

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Golabi, Kamal & Scherer, Charles, R. Optimal Extraction of Geothermal Energy, report, June 1, 1977; United States. (digital.library.unt.edu/ark:/67531/metadc784714/: accessed May 23, 2018), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.