Economic analysis for utilization of geothermal energy by North Dakota Concrete Products Co.

North Dakota Concrete Products Company uses a steam curing process that accelerates the concrete curing so that 28-day strength is obtained within 24 hours. The cost of energy required to accomplish this is significant, amounting to approximately $80,000 in 1980. The present boilers are oil fired. Recently, fuel oil prices have increased substantially. Further, supply shortages in the past have threatened plant production. The purpose of this study was to evaluate the economic feasibility of using deep formation warm water as an alternative energy source. A water-to-water heat pump system to replace the existing boiler system was investigated. TPI, Inc. economic and engineering findings for this particular potential geothermal application are disclosed. The operating cost savings of the geothermal system over the operating costs of the existing oilfired system would be insufficient to provide an acceptable rate of return on the investment at todays cost of money