Japan reconsidering geothermal energy

Long-neglected geothermal energy is now more attractive.

Geothermal energy production is now being ramped-up thanks to Japan’s massive energy shortage. By 2030, Japan plans to increase the share of geothermal energy to 3.88 million kilowatts.

Japanese companies involved in the geothermal effort include Marubeni Corporation and Sumitomo Corporation. Marubeni will also build Japan’s largest solar energy complex by 2014. Sumitomo plans to invest in wind farms and biomass plants, expecting profits to triple in the next three years.

The city of Tsuchiyu, nine miles southwest of Fukushima, is attempting to use Japan’s large subterranean reserves of volcanic water. Its goal is to generate 250 kilowatts of electricity by spring 2014, representing 25% of its total needs.

Japan has revised its energy policy as a direct of the Fukushima nuclear disaster and plans for renewable energy to account for 30% of the country’s total energy mix. This plan increases Japan’s use of renewable energy by eight times the level in 2010.

Japan has a long term strategy of investing US$476 billion in renewable energy over the next 20 years.

In 2007, Japan had 535MW of installed geothermal generating capacity, about 5% of the world total. Japanese geothermal resource potential is estimated 19.14GW.