The U.S. geothermal market is poised to more than double existing
capacity over the next five years, according to a new analysis.
The United States is the current global leader for installed geothermal
capacity and also leads with 4,400 megawatts (MW) in development,according to analyst Emerging Energy Research (EER).
The report Global Geothermal Markets & Strategies, 2009-2020 states that 120
geothermal projects are under development in 12 Western States, and 190
million acres of federal lands were open to geothermal development at
the end of 2008.
Changing regulatory processes in the U.S. are expected to further boost the industry.
Global Market
The potential capacity of geothermal projects in develop
globally exceeds 9,000 MW. If this full pipeline is completed it will
nearly double the current global installed capacity of 10,500 MW, which
has been built up over 30 years.
Currently, there are over 215 commercial geothermal projects operating in 24 countries.
Southeast Asia, with an estimated 40,000 MW of geothermal
potential is attracting investors from around the world. The countries
with the most potential are the Philippines and Indonesia.
Players
Enel (Nasdaq: ENEL) and MidAmerican lead utilities in the global geothermal market, and Ormat (NYSE: ORA) and Geyser Green are two of the frontrunners in development. Oil and gas companies such as Chevron (NYSE: CVX) are also renewing their focus geothermal, according to the report.
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