Although geothermal power projects typically take many years to develop,
the geothermal power industry is rapidly expanding beyond its traditional
markets. Promising resources in emerging markets and innovative technology
demonstration projects are helping to exploit untapped geographic potential.
According to a new report from Pike Research, a part of Navigant’s
Energy Practice, a total of 454 geothermal power projects are now under
active development worldwide, with surface exploration already underway.
Sixty-four countries have geothermal projects slated for development, compared
to fewer than 30 countries just a few years ago, the study concludes.
“
As of the first quarter of 2013, an estimated 18.5 gigawatts of geothermal
power capacity is in the pipeline,” says senior research analyst
Mackinnon Lawrence. “Although a substantial portion of this capacity
will never reach fruition, it’s clear that both project developers
and investors have recognized the vast energy potential of geothermal resources,
signaling a likely expansion in geothermal activity over the next decade.”
Conventional geothermal (hydrothermal) power, representing 90 percent of
the projects identified in the report, exploits naturally occurring pockets
of steam or hot water close to the Earth’s surface to generate electricity.
Because such conditions are rare, the majority of today’s geothermal
power projects are located in rift zones or volcanically active parts of
the world where such anomalies are more likely to be present. Advances
in enhanced geothermal system (EGS) technology, which uses deep drilling
and injected water to create underground steam reservoirs, could open up
new areas to geothermal power projects. According to the report, 252 megawatts
of EGS capacity is currently under development across North America, Asia
Pacific, Western Europe, and Eastern Europe.
The report, “Geothermal Power Projects”, includes a database
covering geothermal power projects targeting hydrothermal, EGS, and coproduction
resources. The database lists projects by geographic region and provides
key metrics on development stage, resource temperature characteristics,
expected project completion date, and total capacity. The goal of this
database is to provide the best up-to-date summary of geothermal power
projects available globally. An Executive Summary of the report is available
for free download on the Pike Research website.
Contact: Richard Martin
+1.303.997.7609
richard.martin@navigant.com
* The information contained in this press release concerning the report, “Geothermal
Power Projects,” is a summary and reflects Pike Research’s
current expectations based on market data and trend analysis. Market predictions
and expectations are inherently uncertain and actual results may differ
materially from those contained in this press release or the report. Please
refer to the full report for a complete understanding of the assumptions
underlying the report’s conclusions and the methodologies used to
create the report. Neither Pike Research nor Navigant undertakes any obligation
to update any of the information contained in this press release or the
report.
