Is Australia on the Cusp of Geothermal Energy?

Two breaking stories today revealing the location by an energy company of not only two geothermal energy sites that could be online within a couple years but also that these sources are already on the national energy grid.

Not only does this reduce the infrustructure costs to getting this energy online, it greatly speeds up the go-live time and allows the energy to be provided at a cost that is only marginally more expensive than coal at it's current price.

I would expect this energy would be cheaper than coal, once the coal price spikes upward when a national carbon trading scheme is introduced in the next few years. To envisage this energy source powering up to 15% of South Australia's energy needs 6 years from now is enough to give you that warm, special feeling we get in the cockles of our hearts.

Maybe below the cockles. Maybe in the sub cockle area. Maybe in the liver, maybe in the kidneys, maybe even in the colon, we dont know[1]. It's a good feeling nonetheless :)

Excerpts from the stories are below and title can be clicked on to go to the full stoires:

Two sites earmarked for geothermal plans

Torrens Energy says early estimates of stored heat show significant potential for Australia's first commercial geothermal energy source.
...
"We accept the criticism that there are no commercial production plants in Australia, but believe that perhaps within one to two years there will be commercial plants in operation," he said.

Hot rocks sites found on national power grid - ABC Online

Six sites with geothermal power potential have been located near the national power grid in northern South Australia.
...
Torrens Energy chief executive, Chris Matthews, says that, within six years, the Parachilna hot rocks could supply between 5 and 15 per cent of South Australia's base load power, at a price competitive with coal power stations.

1 - Shamelessly lifted from Denis Leary.