Geothermal energy is energy derived from heat present in the earth’s crust. Geothermal energy is used for two primary purposes: power generation and direct use. This study deals extensively with the use of geothermal energy for power generation purposes.
Albany, NY -- (SBWIRE) -- 07/08/2016 -- Geothermal energy is used for two primary purposes: direct use and power generation. This report deals exclusively with the use of geothermal energy for power generation purposes. Geothermal energy is renewable in nature; however, it displays features of conventional power generation methods due to high capacity factors and ability to supply base load. Low emissions and non-reliance on fossil fuels are major drivers for the industry. Strong regulatory and policy framework in numerous countries across the world would foster and sustain development in the sector in the long-term.
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This research is designed to estimate, analyze and forecast the market volume and revenue for the global geothermal power generation market. It provides in-depth analysis of the market size of geothermal power in terms of volume (installed capacity) and revenue (investments in the sector for adding capacity). The report covers the plant technology type segment and detailed geographical analysis that spans four regions and 24 countries. It provides detailed analysis, historical data and statistically refined forecast for the technology segments regionally. Countries that currently invest in geothermal power generation have been separately analyzed and forecasted in terms of installed capacity (MW) and actual power generation (Million kWh).
The market size for geothermal power generation has been estimated by studying possible future technology trends in the market. Individual study and analysis of countries and region-specific geothermal associations have been undertaken to estimate and forecast the installed capacity and generation of geothermal power. The primary types of technologies considered in the report include dry steam, flash steam and binary cycle power plants. In terms of region, the market has been segmented into North America, Europe, Asia Pacific and Rest of the World (RoW). RoW comprises countries in Africa and Latin America that have invested in geothermal power generation.
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Geothermal power plant technologies are likely to exhibit significant changes in terms of individual market share from 2013 to 2019. Older technologies such dry steam are expected to lose market share, while new and more efficient binary cycle technologies would capture significant market share in the near future. Costs of setting up a geothermal plant comprise four cost components. Escalation of these individual cost components is likely to vary regionally.
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