Report Shows Geothermal Continues to Grow

Global Market for Geothermal GEA reportAccording to a new report, there are strong growth signals in the international market for geothermal power. Released by the Geothermal Energy Association (GEA), “2013 Geothermal Power: International Market Overview,” identifies 70 countries moving forward with nearly 700 geothermal power projects.

“The number of geothermal projects continues to grow as more and more countries recognize the potential economic and environmental benefits that geothermal power can bring,” said Karl Gawell, Executive Director of GEA.

Several of the report highlights include:

  • By the end of 2013 the global geothermal market is expected to operate 12,000 MW of geothermal capacity on-line.
  • There are 11,766 MW of new capacity in early stages of development or under construction in 70 countries and territories around the world. Additionally, developers are actively engaged with and exploring 27 GW (Gigawatts) of geothermal resource globally that could potentially develop into power plants over the next decade.
  • This year some of the first demonstration Enhanced Geothermal System (EGS) projects provided electricity to grids in Australia and the United States.
  • Counties such as Uganda, France, Tanzania, Chile, and Rwanda have geothermal projects under construction or in the latter stages of development and will have their first operational geothermal power plants within the next few years.

Ben Matek, the report’s author, noted, “There are so many projects moving forward that just a year or two ago were ideas on paper. This demonstrates how quickly the geothermal industry is growing internationally.”

Members of the international geothermal community plan to discuss their successes and emerging market opportunities at the GRC Annual Meeting & GEA Geothermal Energy EXPO in Las Vegas from Sept. 29-Oct. 2. In addition, GEA plans on releasing the background data from the report in early October.

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