Global:

The Status of Geothermal Power in Emerging Economies (GEA)

The U.S. Geothermal Energy Association (GEA) has published a new report on The Status of Geothermal Power in Emerging Economies (PDF).

Global capacity of geothermal power is at just over 12.1 GW about half way through 2014. While growth in the U.S. might have slowed, emerging economies in East Africa, Central America, the Caribbean, and the South Pacific are some of the fastest growing geothermal nations worldwide.

Together these nations are developing nearly 730 sites and another 12.1 GW of potential power. Of that 12.1 GW about 1.6 GW are under construction.

The potential power under development is only a fraction of the estimated total. The Intergovernmental Panel on Climate Change estimates global potential is around 200 GWe of geothermal power, with only a fraction of that total potential tapped. With the ever growing threats caused by climate change, geothermal energy can be an emission-free and cost-effective option to produce electricity in many emerging economies.

Most importantly, there are nearly 80 countries developing geothermal resources that fall adjacent to the Pacific Ring of Fire or East African Rift. In total, this market is estimated to reach nearly $9 billion by 2019.

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