NewEnergyNews: THE ENORMOUS POTENTIAL OF WORLD GEOTHERMAL

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    Friday, August 29, 2014

    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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