Thanks to a decrease in the cost of projects in the field of geothermal energy around the world by 2050, due to this resource, it will be possible to satisfy 15 percent of world demand for electricity.
According to the report of the International Energy Agency (IEA), under the heading of the “Future of Geothermal Energy”, as the world’s demand for electricity grows, new technologies reveal the potential of geothermal energy to ensure clean electricity in almost all countries of the world.
If the cost of projects in the field of geothermal energy continues to decline, it is predicted that this resource will be able to provide 15 percent of world electricity production until 2050.
This will mean commissioning up to 800 gigavatt of geothermal capacities around the world, which, according to estimates, will provide an annual volume of production equivalent to the current demand for electricity in the United States and India combined.
Today, geothermal energy accounts for 1 percent of world electricity production, this resource is largely used in a limited number of countries, including the USA, Iceland, Indonesia, Turkey, Kenya and Italy.
China, the USA, Turkey, Sweden, Indonesia, Iceland, Japan, New Zealand, Germany and the Philippines are included in the ten largest consumer countries, which account for 90 percent of the total geothermal energy used for the production of electricity, heating and heating and heating and cooling.
Assessing the report, the head of IEA Fatikh Birol said that new technologies have opened new horizons for geothermal energy around the world.
He noted that these technologies make it possible to satisfy a significant part of the fast -growing world demand for electricity due to safe and pure resources.
“Moreover, geothermal energy is a great opportunity to benefit from the technology and experience of the oil and gas industry. Our analysis shows that geothermal energy growth can bring investments in the amount of one trillion dollars by 2035,” Birol said.