The Economics of Magma Power Generation

Abstract

An analysis of the economics of generating electricity using magma reservoirs as the energy source indicates that magma based energy could be roughly competitive with existing sources of electricity. The conclusion seems justified even though the analysis requires many assumptions that may or may not prove to be realistic as technology advances. Another important result of this analysis that is not dependant on the state of technology is the identification of the parameters that have the largest effect on the economics of magma energy. These include the initial cost an lifetime of the wells that are drilled to each of the magma reservoir and the rate at which energy can be extracted from each well the same parameters that control the economics of hydrothermal resources. The technological improvements that affect these parameters will be the focus of the continuing magma extraction program.