Geothermal Outlook

The Geothermal Energy Association, in its 2013 Geothermal Power: International Market Overview, said 70 countries are moving forward with nearly 700 projects. The group said that as of August 2013, 11,765 MW of geothermal capacity were on-line -- and 11,776 MW of new capacity were in the early stages of development or under construction. “We are seeing new technology developments move forward and new projects being announced in every region of the world,” remarked Karl Gawell, Executive Director, Geothermal Energy Association.

In 2013, the industry surpassed 12,000 MW of geothermal power operational, with about 600 MW of new geothermal power coming online globally. New geothermal power came on line in Kenya, New Zealand, Nicaragua, Turkey, and Mexico, as well as Oregon, Nevada and Utah in the United States. New project announcements have increased the resource under development to about 30,000 MW.

The potential to use geothermal resources is much greater. With the technology available today and under development for the future, geothermal resources could supply more than 300,000 Megawatts of power, while producing far fewer carbon emissions than from legacy sources.

The Global Geothermal Power Generation market is expected to grow at a CAGR of 9.5 percent over the period 2012-2016. The United States is the world leader in geothermal, with 3,386 megawatts of installed capacity as of the end of 2012, and it has the most projects in development right now.


Source: Geothermal Energy Association