Optimal Timing of Geothermal Energy Extraction

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This paper is concerned with the optimal time to commence extraction of energy from a hot-water geothermal reservoir. The economic models that we have presented in the past have the common characteristics that the extraction program starts immediately (see References 1 and 2). Based on this assumption, we determined optimal extraction strategies and planning horizons such that the present values of total profits were maximized. In this study we relax the requirement that extraction be undertaken immediately, seeking instead the delay in starting time that along with the other decision variables maximizes the present value of total profits over the ... continued below

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158-162

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Golabi, Kamal & Scherer, Charles R. December 14, 1977.

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Description

This paper is concerned with the optimal time to commence extraction of energy from a hot-water geothermal reservoir. The economic models that we have presented in the past have the common characteristics that the extraction program starts immediately (see References 1 and 2). Based on this assumption, we determined optimal extraction strategies and planning horizons such that the present values of total profits were maximized. In this study we relax the requirement that extraction be undertaken immediately, seeking instead the delay in starting time that along with the other decision variables maximizes the present value of total profits over the economic life of the reservoir. Of course, optimal starting time, economic life of the reservoir, optimal extraction rate, and optimal injection temperature are interrelated, and therefore, we analyze their effect on the overall planning strategy simultaneously. 4 refs.

Physical Description

158-162

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  • Proceedings, Third Workshop Geothermal Reservoir Engineering, Stanford University, Stanford, CA, Dec. 14-15, 1977

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  • Report No.: SGP-TR-25-24
  • Grant Number: None
  • Office of Scientific & Technical Information Report Number: 888871
  • Archival Resource Key: ark:/67531/metadc885402

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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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  • December 14, 1977

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  • Sept. 21, 2016, 2:29 a.m.

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  • Dec. 8, 2016, 8:50 p.m.

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Golabi, Kamal & Scherer, Charles R. Optimal Timing of Geothermal Energy Extraction, article, December 14, 1977; United States. (digital.library.unt.edu/ark:/67531/metadc885402/: accessed October 23, 2017), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.