North America and Asia Pacific Lead the Market for Geothermal Power, With a Combined 56 Projects in
North America and Asia Pacific Lead the Market for Geothermal Power, With a Combined 56 Projects in Final Stages of Development, According to Navigant Research
BOULDER, Colo.--(BUSINESS WIRE)-- Conventional geothermal power exploits naturally occurring pockets of steam or hot water close to the Earth's surface to generate electricity. Because such conditions are rare, the majority of today's geothermal power projects are located in areas where such anomalies are most likely to be present. According to a recent report from Navigant Research, North America and Asia Pacific lead the world in terms of geothermal power projects in the final stages of development, with 56 reported projects in either active drilling or construction stages. Nearly all of these projects are in the United States, the Philippines, and Indonesia, the top three countries in installed geothermal power production capacity globally, the study concludes.
"More than 4 gigawatts (GW) of geothermal power capacity are expected to come online worldwide between 2013 and 2018," says Mackinnon Lawrence, principal research analyst with Navigant Research. "This total includes only projects in advanced stages of development. A significant, though mostly unconfirmed, amount of capacity remains locked up in early-stage projects, some of which are likely to be cancelled before completion. As a number of these projects are further developed and their resource potential confirmed, the long-term pipeline - 2017 and later - is expected to expand proportionally."
Although North America leads all regions with the largest number of projects in the pipeline, Asia Pacific has the most reported capacity under development. Located in areas of high seismic and volcanic activity, the island nations of Indonesia and the Philippines account for 63 percent of reported projects across the Asia Pacific region, according to the report. A reported 7.4 GW is currently in the pipeline in Asia Pacific, representing 40 percent of the global capacity under development. Latin America and Africa account for a combined 3.8 GW of additional capacity under development equal to 20 percent of the global pipeline.
The report, "Geothermal Power Projects", includes a database covering geothermal power projects targeting hydrothermal, enhanced geothermal systems, and co-production resources. The database lists projects by geographic region and provides key metrics on development stage, resource temperature characteristics, expected project completion date, and total capacity. The goal of this database is to provide the most up-to-date summary of geothermal power projects available globally. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, Smart Industry, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant (NYS: NCI) is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.
* The information contained in this press release concerning the report, "Geothermal Power Projects," is a summary and reflects Navigant Research's current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report's conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
Richard Martin, +1-303-493-5483
Laverne Murach, +1-202-481-7336
KEYWORDS: United States Asia Pacific North America Colorado
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