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The following set of actions could help spur geothermal development in Chile. Actions by Government: n Provide clear direction for geothermal energy development, and reevaluate institutional support and structure for geothermal development. n Investigate and encourage establishment of financial incentives or mechanisms to boost geothermal development. EndnotES 1 Government of Chile, Ministry of Energy, Renewable Energy Fact Sheet, 2012, cer.gob.cl/wp-content/uploads/downloads/2012/08/ factsheet_Chile_ENG.pdf. 2 Geothermal FAQs, U.S. Department of Energy, Geothermal Technologies Office, www1.eere.energy.gov/geothermal/faqs. html#content. 3 Massachusetts Institute of Technology, The Future of Geothermal Energy, 2006, www1.eere.energy.gov/geothermal/pdfs/future_geo_ energy.pdf. n Reevaluate laws and regulations governing geothermal development—particularly those related to impacts on and engagement of local communities, the concession system, and the time line and requirements for environmental pdf. impact studies. Actions for developers: n Ensure transparency with communities near projects. n Develop industry-wide standards for developing sites near established communities, particularly those in arid northern regions. n Demonstrate willingness to engage in more thorough preliminary environmental impact studies. Energy Finance, April 2011, docs.nrdc.org/energy/files/ene_11052401a. 6 International Energy Agency, Energy Policy Review, 2009, 167. 7 Carrasco, Rodolfo, “Aprobada Ley que Incentive Desarrollo de ERNC para Llegar a 20% en 2025,” Diario Financiero, September 4, 2013, w2.df. cl/aprobada-ley-que-incentiva-desarrollo-de-ernc-para-llegar-a-20-de- matriz-en-2025/prontus_df/2013-09-03/205316.html. 8 Government of Chile, Renewable Energies Center, Reporte CER. Resumen Annual 2012, March 2013, cer.gob.cl/boletin/marzo2013/ Reporte-20121.pdf. 9 Government of Chile, Renewable Energies Center, Estado de Proyectos Renovables. Reporte CER, September 2013, cer.gob.cl/boletin/ septiembre2013/ReporteCER-%20Sep-dise%f1o%20pm.pdf. 10 Trenkle, Rudiger, Mighty River Power Chile. “Geotermia en Tolhuaca.” Invited speaker at joint CEGA-NRDC seminar “The future of geothermal in Chile: Barriers and proposals for development.” Universidad de Chile, Santiago, Chile. April 4, 2013. cega.ing.uchile.cl/ cega/index.php/es/noticias-destacadas/202-todos-los-actores-de-la- geotermia-se-reunen-en-exitoso-seminario-en-el-cega 11 “Alterra Eyes First Geothermal Power in Chile from 2017,” Platts McGraw Hill Financial, July 3, 2013, www.platts.com/latest-news/ electric-power/santiago/alterra-eyes-first-geothermal-power-in- chile-21244058. 12 Geothermal Energy Association, Geothermal: International Market Overview Report, May 2012. 13 Chilean Ministry of Energy, List of Concessions, antiguo.minenergia. cl/archivos_bajar/geotermia/informe_geotermia_web.pdf. 14 See Mims, Christopher, “One Hot Island: Iceland’s Renewable Geothermal Power,” Scientific American (October 20, 2008). Also see “New Zealand 2010 Review,” International Energy Agency 2010: 65. 15 Taylor, Mark, Bloomberg New Energy Finance “Superando barreras al financiamiento: aplicación de lecciones aprendidas a nivel internacional para activar el mercado de geotermia chileno.” Invited speaker at joint CEGA-NRDC seminar “The future of geothermal in Chile: Barriers and proposals for development.” Universidad de Chile, Santiago, Chile. April 4, 2013. www.cega.ing.uchile.cl/cega/index.php/es/noticias- destacadas/202-todos-los-actores-de-la-geotermia-se-reunen-en- exitoso-seminario-en-el-cega 16 “Q2 2013 Geothermal Market Outlook,” Bloomberg New Energy Finance, June 2013, p. 3-4. 17 Success of Geothermal Wells: A Global Study, International Finance Corporation. June 2013, p. 5, www.ifc.org/wps/wcm/connect/7e5 eb4804fe24994b118ff23ff966f85/ifc-drilling-success-report-final. pdf?MOD=AJPERES. 18 “Chile Geothermal: Genie Still in the Bottle,” Bloomberg New Energy Finance, April 3, 2013. Acknowledgements NRDC extends its thanks to Andrew Reed, lead researcher and author of this document, for his contribution to this project and to the Andean Geothermal Center of Excellence, a Fondap/Conicyt project, for their collaboration and assistance during the research phase of this study. The research conducted to prepare this issue brief included interviewing members of the Chilean public sector, private companies, and academic institutions. These interviews capture the opinions of the individuals interviewed and not necessarily the official position of the companies, organizations or firms with which they were affiliated. As part of its research, NRDC also consulted with Bloomberg New Energy Finance. NRDC clarifies that the conclusions and recommendations presented in this document reflect solely the views of NRDC. 4 International Energy Agency, Energy Policy Review, 2009, 163. 5 Tringas, Tyler, “Chile Levelised Cost of Energy,” Bloomberg New 19 Reed, Andrew, master’s thesis: Energy Under the Andes: Benefits, PAGE 9 | Geothermal Energy: Unleashing the Earth’s Power to Fuel Chile’s FuturePDF Image | Geothermal Energy 2013
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