Market research says GT power capacity to exceed 18.4 GW worldwide by 2015

In California, Global Industry Analysts, Inc. released a new research report that projects the global installed capacity for geothermal power generation will cross 18.4 GW by 2015. The company expects new technologies being developed for extracting, as well as utilizing geothermal energy will drive growth in new markets. The share of geothermal energy in the energy mix is expected to increase significantly, owing to increasing fuel prices. The global potential of conventional geothermal sources is estimated to be 70 GW. Conventional geothermal systems are used on worldwide basis; however increasing costs of drilling are affecting the economic viability of geothermal energy. Binary cycle technology is an improved technology that enables production of electricity by utilizing low temperature geothermal sources. The technology provides capabilities for producing geothermal energy in countries where primarily low temperature geothermal energy resources exist.