Currently, there are over 215 commercial geothermal projects operating in 24 countries.
Analyst Emerging Energy Research (EER) has analysed worldwide geothermal market opportunities, development activities, and player strategies in global geothermal markets in its study Global Geothermal Markets & Strategies, 2009-2020.
With a pipeline of more than 4.4 GW of confirmed projects, the US geothermal market is poised to more than double existing capacity over the next five years.
After a period of cyclical growth, geothermal markets are heating up around the globe with sustained development expected in Southeast Asia, New Zealand, Turkey, Chile and East Africa, according to EER.
The current economic climate brings new challenges to the geothermal sector as approximately US$30 billion in capital will be required to transition the entire pipeline into operation. But the proliferation of carbon and renewable polices, technological advances, and developer forays into new markets, indicate the next decade could bring unprecedented growth for global geothermal markets.