Global geothermal to escalate 24GW by 2025: By the end of 2020, global geothermal energy capacity will increase from 16GW to 24GW by 2025.
This is according to a new study by Rystad Energy, the energy research and business intelligence company, which indicates that due to the worldwide energy transition unlocking a total investment of $25 billion (£19bn) within the next five years, global geothermal power production capacity will rise.
The study also reveals that from 2010 to 2020 a total of $40 billion (£30bn) has been invested in advanced geothermal energy developments .
The analysis points out that the US dominates established geothermal capacity with 4GW, followed by Indonesia, the Philippines, Turkey & Italy.
Germany, having 37 operational geothermal power plants that are mostly in Bavaria, has unveiled plans for another 16 heating and power plants to be finished in the following years.
“Contrary to the wind and solar, the surface footprint of a geothermal plant has the advantage of being much lower in terms of square kilometres per MW of produced electricity.” Stated Audun Martinsen, Rystad Energy’s Head of Energy Service Research.
Geothermal projects are typically established in countries with high enthalpy resources, which are identified with active volcanic spaces.
Enthalpy is the the product of the pressure & volume of a thermodynamic system and the sum of the internal energy.
Global geothermal to escalate 24GW by 2025