MEGSorg, Inc.

Money for Organization and Research

Funding MEGSorg, Inc.

The amount of money needed to start a nonprofit corporation to promote MEGS will be about $10,000 and includes $4,000 to secure a patent that makes up a part of MEGS.  That patent if granted, will be asigned to MEGSorg, Inc.

Initial support needs to come from individual citizens.  MEGSorg is applying for 501c status with the IRS so that those who contribute to MEGSorg may get deductions on their Federal and State income taxes.

Contributions will support the following activities:

#1.  Setup and maintain an office for MEGS for volunteer staff

#2.  Begin to develop a detailed description of each of the MEGS components

#3.  Develop a web presence for MEGS

#4.  Explore securing a grant to more quickly move on the MEGS agenda

#5.  Develop a plan for funding and conducting research

In addition to supporting MEGSorg, the following are the two major activities that MEGSorg is undertaking:

*  Development of the detailed description of MEGS (including cost information)

*  Funding the Promotion and Research for MEGS

These two activities will for the most part be funded by money that comes from the Million/Billion Club that is described below.

Development of a Detailed Description of MEGS

A considerable part of the initial work will be in creating the descriptions and research plans for the various components that make up a MEGS facility.  This will be important for organizing the research effort that will be needed.

Funding the Promotion and Research for MEGS

The MIT Report, and many other sources, are the basis for believing that a system like MEGS can provide a very significant part of the future energy requirements of the people on this planet.  It is a sad fact that the studies’ important recommendations have no powerful lobby to act for them when the energy research funds are appropriated by the US government.  Since there is no well healed geothermal industry, there is no army of lobbyists working to get a share of the research funds.  Those who advocate for a rational energy plan that includes geothermal research are under-funded and not a significant part of the political game in Washington.  And unfortunately, there is no real possibility that this will change fast enough to get MEGS in place quickly.

The MIT Study group has made a great contribution, and it has suggested funding for development.

Based on growing markets in the United States for clean, base-load capacity, the panel thinks that with a combined public / private investment of about $800 million to $1 billion over a 15-year period, EGS technology could be deployed commercially on a timescale that would produce more than 100,000 MWe or 100 GWe of new capacity by 2050.  This amount is approximately equivalent to the total R&D investment made in the past 30 years to EGS internationally, which is still less than the cost of a single, new-generation, clean-coal power plant.

The panel thinks that making such an investment now is appropriate and prudent, given the enormous potential of EGS and the technical progress that has been achieved so far in the field.  Having EGS as an option will strengthen America’s energy security for the long term in a manner that complements other renewables, clean fossil, and next-generation nuclear.

The probability the government or the energy industry will provide the funds needed to move geothermal development along in time to meet the present crisis is nil.  We, as citizens need to do what our government can not.

How to fund MEGS when $1 Billion is needed.

Just find one million people who will provide $1,000 each.  Impossible?  At this time Barak Obama has had over 1.27 million people contribute to his presidential campaign.  The way Presidential campaigns (by candidates from both parties) have raised money this year show that there is enormous potential for acquiring funds for the right cause via the Internet.  In the Preface I describe how the reaction to seeing the video, Dimming the Sun led people to commit to doing something more about Global Warming which included pledging money and sending checks even before they were asked for.  People want to stop this climate change from destroying their children’s future.  But if they are to change behavior and add this cause to an already busy life, they need understandable tasks to perform and tasks with a high probability of success.  And they need to know that their financial contributions are secure and will be used efficiently for the purposes that motivated them to give.

The MEGSorg answer is the Million/Billion Club.  Simply described, it is a voluntary pledge of five payments of $200 each year for the next five years. The pledges are made to MEGSorg, and when a sufficient number (about 200) are received, then a staff will augment the volunteer work.  When about 400 pledges have been received, then the first year’s contributions will be requested and the first research plan will be developed and funded, and there will be an intensive search for grant money.

The responsibilities of MEGSorg to handle the funds with care and in line with an effective plan for the research are part of the MEGS SUPPORT PLEDGE form.  No pledge contributions will be requested until the required security and administrative procedures are in place to protect the funds and effectively manage and distribute them.