The interim report which was needed due to more rapid expansion of this power source sites some interesting facts about the growth taking place in this industry at the moment. There are over 40 countries now developing projects which represents over 100% growth. It is expected that by 2010 55% growth from today’s 56,951 gigawatts could be realized. The reasons for this are mainly the generous support from government policies and tax credit incentives, such as the scheme we recently reported on here in Nevada.
The United States continues to be home to the most capacity with about 2828 MW of capacity in 2005, this is equal to about 0.36% of US power output, still only a drop of water on the hot stone. This could be set to change though with the tax credit which was issued at the federal level for geothermal energy by the United States Congress back in 2005. Some experts have even estimated that it could be set to double by 2010. Another country looking to create a significant amount of capacity is Germany with over 100 sites being looked at and potentially 200 MW of capacity.
For additional information:
http://www.geo-energy.org/http://www.geo-energy.org/publications/reports.asp
