New legislation in Germany is making geothermal electricity a viable option for the first time. Germany’s support of solar energy, mostly in the form of incentives and high return for consumers who sell excess solar power back to the grid, has made it a world powerhouse in solar energy generation and solar panel manufacturing. Now it promises to surge ahead in geothermal electricity generation.

Let’s hope President Obama implements full-tilt R&D into renewables in the US, with subsidies for early adopters. In the process of going to a clean energy economy, millions of new jobs will be created, as will a multitude of new industries. Private enterprise and venture capital in the US are making major moves towards greentech. It’s time for the US government to do the same. Clearly, many other governments already are.

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While most geothermal power plants are located on extremely hot geothermal wells, Raser (RZ) is looking to capitalize on low- and medium-temperature sites.

New technology allows them to use these lower temperature sites to create electricity with no emissions, and there are way more lower temperature sites than higher temperature.

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