Geothermal electricity production currently accounts for approximately 0.2% of total U.S. energy consumption. Since it can take several years between the development and operation stages of a new geothermal plant, many projects that currently are under development may not be online delivering electricity until after 2011.
According to the latest market studies, geothermal installed capacity in the U.S. increased by 4% y/y to 2958MW from 2851MW. The Western Governors Association (WGA) estimates that 12,558MW of identified geothermal resources could potentially be added by 2025 with 5,600MW forecast to be added by 2015 if geothermal electricity prices can remain competitive. If this scenario plays out, then total developed geothermal resources would be at approximately 15,516MW by 2025. [1]
Certainly, growth in the U.S. will vary by considering the activity of geothermal projects in the construction phase. According to one study, the number of projects under development is estimated to have increased by 40% in 2009 to 97 projects as opposed to 69 projects last year. Projects in development are estimated to represent a maximum capacity of 3,950MW or an increase in excess of 50% from last year. To illustrate geothermal growth, in 2006 the U.S. Bureau of Land Management approved 18 geothermal drilling permits, permit approvals doubled in 2007 and by 2008 had nearly quadrupled.
Research by Eva Patry
