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Geothermal Energy, as a renewable energy source has shown signs of considerable growth over the last 7 years. Global Geothermal installed capacity has escalated from 7,972 MWe in 2000 to around 9,700 MWe in the year 2007 and is expected to reach around 13,600 MWe by 2012 with a CAGR of 7%.

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The Global Geothermal Industry, Market Size and Growth
The US continues to be the world leader in terms of total installed capacity of geothermal energy and the generation of electric power from geothermal energy. Geothermal energy is the third largest source of renewable energy in the US, behind hydropower and biomass.

Geothermal power plants are at an economic disadvantage when compared to conventional fossil-fueled power plants. In addition, the development of geothermal energy hinges on technical issues such as temperature and location (generally at tectonic plate boundaries) of resources. Therefore, to make geothermal competitive in comparison to other power generating technologies, more R&D efforts are required.
This latest geothermal power data and analysis was taken from the research report "Global Geothermal Energy Market Analysis and Forecasts to 2012" published by Global Markets Direct - for more information on this report, Click Here

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