Nov 9 2010
An open-loop geothermal system will be installed in Colorado's Capitol building, which will use a $4.6 million grant from the US Department of Energy under the Energy Recovery Act. The system will reduce the heating and cooling expenditure up to $95,000 in the first year itself. The Capitol tower is the first in the country to use a geothermal system for heating and cooling.
The total investment required for the project is $6 million of which $1.4 million financed by the state via Certificates of Participation and the Chevron's lease-purchase deal. As per the deal, the payments of the annual lease-purchase will be made through sufficient utility savings that will be guaranteed by Chevron.
Steven Chu, the US Energy Secretary commented that the project would make them independent on foreign oil, help the taxpayers to save money and boost the image of Colorado in the future green energy economy.
An over 900-foot well will be drilled into the Arapahoe Aquifer in the project's first phase. The second phase is scheduled to commence in the spring that will include boring a second well and upgrading the HVAC systems. By pulling water from the aquifer, temperatures can be maintained at 55„a, which can be served to cool the tower during summer and heat the tower during winter. The installation procedure is the same as that which is used in the installation of a geothermal ground source heat pump at the Residence of the Governor in 2009, which reduces 15% of electricity and 70% of natural gas load.
Source: http://www.colorado.gov