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Geothermal Power Market in Americas to 2020
Geothermal Power Market in Americas to 2020
The Central America Geothermal Industry is Going to Tap into its Huge Geothermal Potential
London,
London,
United Kingdom
(prbd.net)
28/01/2011
Central America has huge potential for geothermal power generation. But only a few Central American countries, such as Mexico, El Salvador, Costa Rica, Nicaragua and Guatemala, are currently harnessing geothermal power. With increasing emphasis on renewable sources for power generation around the world, and focus on gaining energy independence, many of these countries have started projects to develop geothermal resources. In addition, many other countries not producing geothermal power are investing in the development of geothermal resources.
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The US dominates the global geothermal market as well as the Americas market. The United States Department of Energy (DOE) is very actively promoting renewable and geothermal energy production in the country. Many policies and tax incentives are being devised to support geothermal developmental projects. The US government has also provided a stimulus funding of $338m for the development of geothermal projects under its Geothermal Development Program (GTP).
The US currently has many geothermal projects either under construction or in the planning phase. The capacity that is under development is more than the current total capacity of the entire Americas. It has more than 100 projects in the pipeline, which would add more than 7,000 MW of capacity.
It is estimated that the cumulative installed capacity for geothermal power of U.S. would grow from 3,153 MW in 2009 to 11,693 m in 2020 growing at a CAGR of 12.7%. And the power generation would grow from 19,610 GWh in 2009 to 69,690 GWh in 2020 growing at a CAGR of 12.2%.
GBI Research, a leading business intelligence provider, has released its latest research, “Geothermal Power Market in Americas to 2020 - High Potential along with Favorable Policies Propelling The US Market”. The report gives an in-depth analysis of the geothermal industry in the Americas, covering all the countries currently engaged in geothermal power production in the region, namely the US, Mexico, El Salvador, Costa Rica, Nicaragua and Guatemala. The research analyzes the upcoming trends and major challenges faced by utilities in current market scenario and key drivers of various IT applications in the utility industry. The report covers cumulative installed capacity and generation forecasts from the geothermal resources for all the above mentioned countries - up to 2020. It also provides a detailed analysis of existing and future geothermal potential, major projects and the regulatory framework of the mentioned countries. The report also includes an overview of the geothermal industry in the Americas, major deals and the competitive landscape. This research study provides information on technological analysis, key research and development trends, key industry metrics such as growth drivers and restraints, cost analysis and profiles of major international geothermal organizations. This report is built using data and information sourced from proprietary databases, primary and secondary research, interviews with industry participants and in-house analysis by GBI Research’s team of industry experts.
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