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State News - Climate - October 07 |
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30/10/07 Origin tunes in for some red-hot rock Mathew Murphy, The Age Business Day
02/10/07 Ararat sun goes to water Nick Sheridan, The Age Business Day
Mathew Murphy, The Age Busness Day
October 30, 2007
Letting off steam.
ORIGIN Energy has delivered a vote of confidence in geothermal energy, announcing it will expand its operations to include the technology through a $150 million joint venture with a geothermal specialist.
Origin has signed an agreement to take a 30 per cent stake in an exploration venture with the listed Geodynamics. Origin already had a 10 per cent holding in Geodynamics, which it will retain.
Geothermal energy is produced by running water down drilled holes and over "hot rocks". Hot water and steam rush to the surface and are captured by turbines, producing electricity. Interest in the technology is growing because of its low greenhouse gas emissions and low capital costs compared with most large-scale renewable projects.
"We believe that geothermal energy will play an increasing role in securing the world's future energy needs," said Origin chief executive Grant King. "Geodynamics' tenements are among the most prospective geothermal areas in Australia and include some of the hottest rocks in the world."
Origin spokesman Tony Wood said he did not think the result of next month's federal election would affect the business case for geothermal.
"What is clear is that there will be an emissions trading scheme in place no matter who is elected," he said.
In April, the Victorian Government announced six licences for companies to drill at 13 sites to determine potential.
Origin shares dipped 3¢ to $9.32 while Geodynamics jumped 21.5¢ to $1.805.
Nick Sheridan, The Age Business Day
October 1, 2007
SOLAR hot water systems, which can cut a household's energy usage by up to 30 per cent, are to become available with no upfront costs under a new business model.
Earth Utility offers households a subscription-style service where the system is purchased and installed through the renewable energy company, which charges the customer a quarterly fee for it.
The new service is poised to take advantage of a large niche in the energy market, said the managing director of Earth Utility, Koovashni Reddy.
"What we noticed is that solar hot water is a proven product: it reduces 30 per cent of your household energy usage.
"There's over 7.5 million hot water systems in Australia, yet less than 5 per cent are solar and over 6 million are electric — the market seems totally under-serviced and over-priced," Ms Reddy said.
Earth Utility is staging the first roll out of its service in the northern Victorian town of Ararat, due to a partnership forged with the Ararat Rural City Council.
The council has also signed on with Earth Utility and is planning to install the systems in public buildings.
The systems are also set to be used in a local property development, Ararat Hills Estate.
The decision to install the units in the new homes was made on both environmental and economic grounds, said developer Max Perovich.
The systems will be supplied, installed and maintained by Chromagen Solar Australia through Earth Utility at a standard cost of $88 a quarter per household.
The Earth Utility project is the latest in a range of environmentally sustainable projects to be pursued by the Ararat council. This has followed community concern about climate change, exacerbated by the drought, which has caused the region's water levels to drop to just 8 per cent, according to the council's manager of development, Mark Hogan.
The region also hosts a 35-turbine wind farm and the council hopes to establish a renewable energy park.