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Geothermal Energy Capacity to Grow by 78% by 2015

In its recently released Sixth Edition of the Geothermal Report, ABS Energy Research concludes that although 2009 was a very difficult year for the geothermal industry, the market will continue to grow over the next five years.

According to ABS Energy’s research, only 10 projects, totaling 405-megawatts, were commissioned in 2009. The geothermal power projects were located in the United States (181 MW), Indonesia (137 MW), Turkey (47 MW), and Italy (40 MW). The report states the requirement of high up-front investment along with the high risk associated with developing geothermal projects as the chief catalysts for the tough year.

Nevertheless, the Geothermal Report says the overall outlook for the geothermal industry is positive. ABS Energy expects the global geothermal market to increase 78% between 2010 and 2015; this would bring global capacity to 19,016 MW.

Read the original article at: EnergyBoom

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