The global geothermal energy market has grown to approximately 11,224 megawatts of installed capacity as of May 2012, with the United States remaining the world leader with approximately 3,187 MW.
“It is encouraging to see such widespread geothermal growth, as this baseload energy source has the potential to replace coal and other non-renewable power sources in countries around the world,” said Geothermal Energy Association executive director Karl Gawell.
Mr. Gawell heads a trade association of U.S. companies supporting the expanded use and development of geothermal resources worldwide. They recently released an overview report of the global geothermal power market.
In general, the report found that growth seen in the geothermal market for the 2011-2012 period can be attributed to a number of factors which include economic growth; the electrification of low-income and rural communities.. Read more