Economic Performance Indicators for a Geothermal Aquatic Center in Victoria, Australia-Reference-Cited by-同舟云学术

Economic Performance Indicators for a Geothermal Aquatic Center in Victoria, Australia

Published:2023-02-22 Issue:5 Volume:16 Page:2134
ISSN:1996-1073
Container-title:Energies
language:en
Short-container-title:Energies

Author:

Fu Boxiang¹^ORCID,Beardsmore Graeme²^ORCID,Webster Rachel³^ORCID

Affiliation:

1. Faculty of Science, University of Melbourne, Parkville, VIC 3010, Australia

2. School of Geography, Earth and Atmospheric Sciences, University of Melbourne, Parkville, VIC 3010, Australia

3. School of Physics, University of Melbourne, Parkville, VIC 3010, Australia

Abstract

The Gippsland Regional Aquatic Centre (GRAC) opened in the town of Traralgon, Victoria, Australia early in 2021. The GRAC utilizes a geothermal energy heating system as an alternative to conventional natural gas furnaces. We have examined 12 full months of heat production from the geothermal system of the GRAC and compared its economic performance against equivalent heat production by natural gas. The geothermal system—the first of its kind in Victoria—operated at >95% availability over its first year of operation. Our economic assessment indicates that the breakeven price for the geothermal energy is about 35% the equivalent price of natural gas and the payback period for the geothermal system is about five years. The results justify the initial capital outlay by Latrobe City Council and are likely to stimulate further development of geothermal heat systems in the region.

Funder

Victorian Government Department of Jobs Precincts and Regions

Publisher

MDPI AG

Subject

Energy (miscellaneous),Energy Engineering and Power Technology,Renewable Energy, Sustainability and the Environment,Electrical and Electronic Engineering,Control and Optimization,Engineering (miscellaneous),Building and Construction

Link

https://www.mdpi.com/1996-1073/16/5/2134/pdf

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