Global geothermal power capacity is expected to rise to just over 17 GW by 2023
Major transformations are underway for the global energy sector, from growing electrification to the expansion of renewables, upheavals in oil production and globalization of natural gas markets. Across all regions and fuels, policy choices made by governments will determine the shape of the energy system of the future.
At a time when geopolitical factors are exerting new and complex influences on energy markets, underscoring the critical importance of energy security, World Energy Outlook 2018, the International Energy Agency’s flagship publication, details global energy trends and what possible impact they will have on supply and demand, carbon emissions, air pollution, and energy access.
In the Renewables 2018 forecasts, the share of renewables in meeting global energy demand is expected to grow by one-fifth in the next five years to reach 12.4% in 2023.
Renewables will have the fastest growth in the electricity sector, providing almost 30% of power demand in 2023, up from 24% in 2017. During this period, renewables are forecast to meet more than 70% of global electricity generation growth, led by solar PV and followed by wind, hydropower, and bioenergy.
In 2017, global geothermal power generation stood at an estimated 84.8 TWh, while the cumulative capacity reached 14 GW. Global geothermal power capacity is expected to rise to just over 17 GW by 2023, with the biggest capacity additions expected in Indonesia, Kenya, Philippines and Turkey.
