100 gigawatts of geothermal power for a $100 $1 billion investment, with no associated carbon load and no radioactive waste storage problem, sounds pretty damn good to me. According to this article, we'd only need to tap 0.0007% of the shallow geothermal heat beneath the United States (where "shallow" is 3-4 miles) to meet the US demand for electrical power. Double that, and we could easily convert most transportation to electric traction without wondering where the power would come from.
Now this is sustainable energy. Individual sites may cool and need to recover, but over the long run, geothermal heat will outlast the human race. Even if we manage to somehow exhaust all the shallow geothermal sources, it'll take us long enough that by that time we may be ready for a mantle tap.
Edit:
I read "$100 million to $1 billion" in the article, decided to take the high number to be safe, and fluently typo'd "$100 billion". Corrected above now. That makes the construction investment on the order of one cent per watt.
(Article pointer from mrmeval)
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I'd be really surprised if there were any surface subsidence issues associated with drilling a four-mile-deep borehole into a zone of hot rock, pumping water down it, and running the steam that comes out through a turbine, when we haven't experienced surface subsidence from drilling a two-mile-deep borehole into oil-bearing rocks and letting pressure force the oil out.
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Last I knew, nuclear fission reactors came in at $0.03/watt, though I'm not sure that's the fully burdened cost.
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Bad fingers. No donut!
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It's not "where the power comes from" that's the stickler for electric transportation, it's "how does the power get there?" Recharge cycles are a bitch.
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Another thing that would help on that score would be to make the government put its money where its mouth is: Require ALL government official vehicles to be electric vehicles, and require ALL elected or appointed public "representatives" to use them whenever driving or being driven in any official capacity, defined to include to and from the office. If they HAVE to use them, they'll fund the development necessary to make it convenient for themselves.
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I can get supercapacitors now that have interesting ratings but not nearly enough for vehicles. They may work for something like small items such as MP3 players.
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I'll post that link there and ask. They come out good but not fantastic economically unless prices for other energy sources go very high.