THE ENORMOUS POTENTIAL OF WORLD GEOTHERMAL

Geothermal power approaches 12,000 megawatts worldwide

J. Matthew Roney, August 27, 2014 (Earth Policy Institute via Blouin News)

“In 2013, world geothermal electricity-generating capacity grew 3% to top 11,700 megawatts across 24 countries…[It] was geothermal’s best year since the 2007-08 financial crisis…[T]he upper six miles of the earth’s crust holds 50,000 times the energy embodied in the world’s oil and gas reserves…[But] test-drilling to assess deep heat resources prior to building a geothermal power plant is uncertain and costly. The developer may spend 15% of the project’s capital cost during test-drilling, with no guarantee of finding a viable site…Once built, however, a geothermal power plant can generate electricity 24 hours a day with low operation and maintenance costs – importantly because there is zero fuel cost…

"The top three countries in installed geothermal power capacity – the United States, the Philippines, and Indonesia – account for more than half the world total…Iceland holds the top spot in [generating electricity from geothermal], using geothermal power for 29% of its electricity. Close behind is El Salvador, where one quarter of electricity comes from geothermal plants. Kenya follows at 19%. Next are the Philippines and Costa Rica, both at 15%, and New Zealand, at 14%...Indonesia is just one of about 40 countries that could get all their electricity from indigenous geothermal power – a list that includes Ecuador, Ethiopia, Iceland, Kenya, Papua New Guinea, Peru, the Philippines, and Tanzania…” click here for more

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