Geothermal energy accounts for only 0.3% of globally installed renewable energy capacity. However – once start-up costs are met – it is one of the lowest-cost and most reliable renewable energy sources available. The global potential for geothermal is estimated to be approximately 200 GWs.
Private and public sector representatives will come together at the meeting to address and overcome barriers that have hindered the deployment of geothermal. The meeting is organized by the Italian government, including the Ministry of Foreign Affairs and International Cooperation, the Ministry of Economic Development, and the Ministry for the Environment, Land and Sea together with the International Renewable Energy Agency (IRENA).
"In line with our commitment to the COP21 Agreement, the Italian Government is determined to promote renewable energy and invest in innovative, zero-emission technologies with low environmental impact, including in the geothermal sector,” said Italian Minister for Environment Gian Luca Galletti.
“Globally, geothermal energy remains largely untapped despite its huge potential for low-carbon power generation and direct use in heating and cooling,” said Adnan Z. Amin, IRENA Director-General. “Right now we may only be harvesting six per cent of proven geothermal energy potential, meaning the sector represents a significant opportunity to decarbonize the energy system and drive economic growth in the 90 countries with proven resources.
“This Global Geothermal Alliance ministerial is a milestone that, in the strongest possible terms, demonstrates renewed will to unlock the potential of geothermal and reinforce the importance of its deployment to the global energy transition,” concluded Mr. Amin.
The conference will attract more than 200 attendees who will hear global government and business leaders discuss the challenges and opportunities associated with scaling-up geothermal energy.
For Information: IRENA