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Market |
Energy and Utilities |
Report Type |
Market Research |
Country |
Global |
Published |
15 June 2009 |
Number of Pages |
197 |
- |
|
Publisher |
Priority Metrics Group |
Geothermal energy is a vast, renewable, low carbon energy source that can be converted to electricity and used to condition building environments. Improved technologies have the potential to access vast untapped geothermal energy sources, which experts estimate contain 50,000 times the energy of all oil and gas resources in the world. The technology can also help to address the critical issues of global warming, pollution and energy independence, and to provide a secure, safe, domestic source of energy.
Current usage of geothermal technologies is limited. As of 2008, geothermal power supplies less than one percent of the world’s energy. Less than half of 1% of United States electrical power is provided utilizing geothermal sources. Iceland derives over a quarter of its electrical output from geothermal sources. The Philippines are nearing 25%. Indonesia, Italy, Mexico and New Zealand all have substantial geothermal power production programs. However, increased development of geothermal technology will improve its acceptance and use by governments, other organizations and electrical utilities worldwide. Current usage of geothermal technologies is limited. As of 2008, geothermal power supplies less than one percent of the world's energy. Out of the two million heat pumps installed in the United States each year, just over 2 percent are geothermal. However, increased development of geothermal technology will improve its acceptance and use by governments, other organizations, developers and homeowners.
Current geothermal energy production in the United States is a $1.5 billion industry. As the global demand for clean, reliable, renewable energy increases, geothermal energy has become an attractive solution. This is true not only in the United States, where current capacity is about 3,000 megawatts (MW), but at numerous locations around the world. One area of increased emphasis is Enhanced Geothermal Systems (EGS) which offers the possibility of widely expanding the geographic range of geothermal power plant locations.
A 2007 Massachusetts Institute of Technology report calculated the United States’ total EGS resources extracted from 3-10 km in depth to be over 13,000 zettajoules (ZJ), of which over 200 ZJ would be extractable. The potential exists to increase this to over 2,000 ZJ with technology improvements. This level of energy production is sufficient to provide the world's current energy needs for several millennia.
Electricity generated from geothermal power offers a number of advantages:
• Reliability
• Renewability
• Combustion-free
• Very low emissions
• Reduction in global warming
• Domestic economic boon
• Minimal land impact
• Water conservation
• Flexible plant growth
There are some disadvantages to the production of electricity from geothermal sources:
• Limited geographic site locations
• High start-up cost
• Land subsidence may occur
• Poor management can exhaust sites
Tax incentives, subsidies and government policy play a large role in the speed with which geothermal technology is developed and implemented. The new U.S. administration expects to make a large impact on the renewable energy field, including geothermal, with plans to double and quadruple use of renewables in just a few years.
Geothermal Energy Technologies presents a firm understanding of the technical, economic, and market potential of all geothermal technologies. Such an understanding is required to assist decision makers in the identification of the most efficient use of resources. Both historical and projected metrics will be gathered to determine technology improvements and commercialization opportunities. The report will conduct analyses of market, policy, and technology status by evaluating the impacts of research and testing options. Additionally, results of the analyses will provide information to researchers, policy makers, and investors on areas to target for greater cost reduction and market transformation.
Geothermal Energy Technologies contains comprehensive data on the U.S. and global geothermal energy market, including historical (1999–2008) and forecast (2009–2013) market size data in terms of number and dollar value of the market, and level of geothermal energy production. The report identifies key trends affecting the marketplace and significant drivers of growth, and includes profiles of major marketers and producers.
Methodology
The information in Geothermal Energy Technologies is based on data from the U.S. Department of Commerce and the Census Bureau, along with information from trade associations such as the Geothermal Energy Association, U.S. Department of Energy, business journals, company literature and websites, and research services such as Simmons Market Research Bureau.
Key Report Deliverables
Geothermal Energy Technologies makes important predictions and recommendations regarding the future of this market, and pinpoints ways current and prospective players can capitalize on current trends and spearhead new ones. No other market research report provides both the comprehensive analysis and extensive data that Geothermal Energy Technologies offers. Plus, you’ll benefit from timely and accurate information presented in easy-to-read and practical charts, tables and graphs.
- In-depth description of geothermal electrical power
generation technologies currently in use including:
Dry Steam, Flash Steam, Binary Cycle, Enhanced
Geothermal, Hot Dry Rock, Direct Use and others.
- Key trends and issues.
- Current (2008) market size and forecast of market size through 2013.
- Review of drivers and influencers of demand and assessment of their impact on future demand.
- Marketplace acceptance of alternative energy.
- Legal and regulatory requirements and recent changes with the new U.S. administration.
- In-depth profiles of leading participants within the industry including background, product portfolio, financial performance, M & A activity, technology development, strategic direction and key personnel changes
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