Geothermal capacity to surge with new technologies

According to a study conducted by Global Industry Analysts of San Jose, California, the world’s geothermal energy capacity is expected to increase substantially over the next five years as the search for alternative, clean forms of energy spurs new technologies that will facilitate its use at much lower costs. Though currently producing 18.4 gigawatts (GW) annually, geothermal has a global capacity potential of an estimated 70 GW. Equally important are the undeniable benefits of this energy source: in addition to producing virtually no greenhouse gas emissions, it can be accessed at any time, unlike solar and wind energy, both of which have variability issues. Geothermal will also become increasingly vital as conventional fossil fuel sources are depleted. The United States and countries in the Asia Pacific region currently lead the way in harnessing geothermal resources, which are used predominantly for generating electricity and heating.

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