Coherent Identifier About this item: 20.500.12592/f5kwnd

PLATFORM FOR ACTION ON RENEWABLE ENERGY (PoA) BRIEFING PAPER

12 May 2022

Summary

However, due to rapid expansion of solar and wind power in the world, the total share of geothermal energy in the renewable energy basket is dropping.1 Table 1: Share of installed Global Geothermal energy capacity Year Total RE installed Total global Geothermal % of Geothermal around the world (MW) capacity (MW) capacity 2011 1,329,886 10,134 0.76% 2012 1,442,763 10,481 0.73% 2013 1,564,390 10,718. [...] Furthermore, it is not seasonal and weather-dependent, and can be made available ‘on-demand’ like energy generated from fossil fuels, and hence has the potential to become one of the largest sources of clean energy in the transition to a new energy paradigm, especially in geographies that have medium to high potential geothermal resources. [...] Conclusion Geothermal energy is a renewable source of energy that has the potential to complement the efforts to replace fossil fuels and nuclear power in global energy systems, while still satisfying the increasing demand for energy services. [...] While the technology is yet to reach commercial maturity in a number of places and regions, the benefits that geothermal energy offers far outweigh the uncertainties and risks, and with the right policy support can become an important portion of the energy baskets of almost all regions in the world for either electricity and/or low and high temperature heat supply for various purposes. [...] The main focus on the development of the energy source as a robust and reliable alternate continues to be on technological innovation, such as new resource recovery techniques and seismic risk mitigation, with the aim of improving the economics, lowering the development risk and strengthening prospects for expanded geothermal resource development.

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