Between 2005 and 2010 the U. S. was the world leader in geothermal production with most MW installed, according to a new report by the Geothermal Energy Association (GEA): Geothermal Energy: International Market Update. The report found that geothermal energy is spreading rapidly across the globe and that Germany is the fastest growing geothermal power producer.
According to the report, the countries with the greatest increase in installed capacity (MW) between 2005 and 2010 were:
1. US - 530 MW
2. Indonesia - 400 MW
3. Iceland - 373 MW
4. New Zealand - 193 MW
5. Turkey 0 62 MW.
In terms of percentage increase the top five countries were:
1. Germany - 2,774%
2. Papua-New Guinea - 833%
3. Australia - 633%
4. Turkey – 308%
5. Iceland - 184%
While there was an overall 20% growth in geothermal power between 2005 and 2010, seventy nations currently have projects under development, a 52% increase in just the past three years – this number grew the most dramatically in Europe and Africa. Ten countries in Europe were listed as having geothermal projects under development in 2007, but in 2010 this has more than doubled to 24 nations. Six countries in Africa were identified in 2007, compared to 11 now.
In these two regions, policy and geothermal development showed evidence of working favorably together to stimulate growth. "In 2010, global geothermal development is being driven in part by a number of regional institutions which, in addition to financing geothermal projects, are enhancing regional cooperation within an emerging renewable energy sector," according to the GEA report. "Examples include the African Rift Geothermal Energy Development Facility (ARGeo), which underwrites drilling risks in six African nations and is backed by UNEP, and the World Bank and the geothermal initiatives of the European Bank for Reconstruction and Development supported by European Union climate policies."
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