Capturing heat from the earth is not a new way to generate power, but, as fossil fuel prices continue to hover at all-time highs and the global economy stalls, people are looking to new and old sources of power.  Geothermal may soon have its day in the sun.

In fact, geothermal heat is picking up steam in 24 countries that are using the energy as part of their power portfolio. In the first six months of 2008, the global geothermal power supply achieved 10,000 megawatts of electricity. It is anticipated that by 2010, that supply will jump to 13,500 megawatts and be used throughout 46 countries. To put that in perspective, 13,500 megawatts is the approximate amount of electricity generated by 27 coal power plants.

Geothermal energy is created as naturally occurring isotopes decay deep within the earth’s core under immense pressure. The result: intense heat. Countries primed for the capture and resale of geothermal energy include Central and South American countries like Chile, Peru, the North American countries, as well as other major nations like Russia, China, Japan, the Philippines and Indonesia. Many of these nations are located along the Ring of Fire, an area with an abundant amount of geothermal activity.

Geothermal energy provides a cleaner energy resource as the capturing process emits less carbon than current fossil fuel processes. Additional benefits include the ability for heat capturing 24 hours a day, which means no need for backup or storage supplies -- saving money and resources. The Energy Policy Act of 2005 provided funding and tax credits for geothermal energy. On the whole, fossil fuel electricity and geothermal electricity cost generally the same, but with tax incentives for cleaner energy, those costs will decrease.

Nearly 100 geothermal power projects have been commissioned throughout 13 states with the potential to generate 4,000 megawatts of power. The Department of Energy is continuing to invest in research and development for efficient geothermal power. Geothermal energy will continue to be considered a potential power supply as its track record becomes better established and its efficiency gains recognition.