The development of geothermal energy in Australia has focussed on the exploration of Australia's 'hot dry rock' resources to provide competitively priced, emission free baseload electricity.

Over 80 per cent of Australia's identified hot dry rock resources are located in the Eramonga Basin. This area covers the north-east corner of South Australia and the south-west corner of Queensland.

The Australian Government has invested A$58.9 million in the Onshore Energy Security Program to acquire and generate pre-competitive geoscientific data about Australia's onshore geological potential for petroleum, uranium, thorium and geothermal resources. The program is expected to identify locations across Australia where hot rock and water systems have the potential for either base load electricity generation or lower temperature direct use.

In addition to the Onshore Energy Security Program, some A$28 million has been provided by the Australian Government through the Renewable Energy Development Initiative, the R&D Start program, the Renewable Energy Commercialisation program, and the Renewable Energy Equity Fund.

The identification of vast hot rock resources and Australian Government support for geothermal energy is driving investment in geothermal exploration, proof-of-concept and demonstration power generation projects and five companies have commenced drilling programs.

As worldwide demand for energy increases, the fast growing Australian geothermal sector provides a wealth of opportunities for investors looking to invest in emerging zero emission technologies.