Escalating investment in geothermal power could result in a 134% increase in global geothermal capacity between 2010 and 2020, from 10.7 gigawatts (GW) to 25.1 GW, under a high-growth forecast scenario, according to a report by Pike Research. Under a more conservative business-as-usual forecast scenario, Pike estimates that geothermal power capacity could increase 34% to 14.3 GW by 2020.
The current installed capacity of 10.7 GW is spread across 26 countries with a combined output of approximately 67 terawatt hours (TWh) of electricity. Currently, the United States is the global geothermal leader with 3.1 GW of installed capacity, and seven countries represent 88% of the world market. While conventional geothermal resources account for nearly all online capacity today, enhanced geothermal systems (EGS) and co-produced wells both offer opportunities for expansion outside of rift zones or volcanically active regions throughout the world, according to the study.
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