The geothermal industry continues to face significant project development risk
Renewable energy targets and other support policies, now in place in 164 countries, powered the growth of solar, wind and other renewable technologies to a record-breaking energy generation capacity last year: about 135 GW of added renewable energy power increasing total installed capacity to 1,712 GW, up 8.5% from the year before.
About 640 MW of new geothermal power generating capacity came on line, for a total approaching 12.8 GW, producing an estimated 74 TWh in 2014.
The largest share of new geothermal power capacity came on line in Kenya, underscoring the growing emphasis on geothermal energy in East Africa.
Over the past five years, total geothermal power capacity has grown at an average annual rate of 3.6%, and heat capacity at an estimated 5.9%. The geothermal industry continues to face significant project development risk; various efforts are under way to ameliorate such risks in developed and developing countries.
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