There is a 300MW generation plant of this type to be built in Australia in 2010-11. It has just completed its steam trial in Feb 2009
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this technology is 40 yrs ahead of its time. My guess is that the plant in Australia is a test run. you may want to invest in it when people KNOW about it
I REALLY like the idea though — very cool
more from wikipedia . . .
MIT Report
Geothermal power technologies.A 2006 report by MIT[5] conducted the most comprehensive analysis to date on the potential and technical status of EGS. The 18-member panel, chaired by Dr. Jefferson Tester of MIT, reached several significant conclusions.
[edit] Major Findings
1) Resource Size: The MIT report calculated the United States total EGS resources from 3–10 km of depth to be over 13,000 zettajoules, of which over 200 ZJ would be extractable, with the potential to increase this to over 2,000 ZJ with technology improvements — sufficient to provide all the world’s current energy needs for several millennia.[5] The report found that total geothermal resources, including hydrothermal and geo-pressured resources, to equal 14,000 ZJ — or roughly 140,000 times total U.S. annual primary energy use.
2) Development Potential: With a modest R&D investment of $1 billion over 15 years (or the cost of one coal power plant), the report estimated that 100 GWe (gigawatts of electricity) or more could be installed by 2050 in the United States. The report further found that the “recoverable” resource (that accessible with today’s technology) to be between 1.2–12.2 TW for the conservative and moderate recovery scenarios respectively.
3)Cost:The report found EGS could be capable of producing electricity for as low as 3.9 cents/kWh. EGS costs were found to be sensitive to four main factors: 1) Temperature of the resource 2) Fluid flow through the system measured in liters/second 3) Drilling Costs 4) Power conversion efficiency
In addition the report has a wealth of data on EGS technology, trial wells and EGS economics.