The United States is about to become the world’s first geothermal energy producer. New statistics from Pike Research says that the goal will be reachable within the next 10 years or less.
Pike Research says that the total geothermal output in the U.S. will reach 4.2 GW, which is about 36 percent more than the country has been producing last year.
The numbers say that the U.S. will account for up to 30 percent of the total geothermal energy generated worldwide, taking into account that the Asia Pacific region is expected to total only 5.9 GW in the same time frame.
“Currently the vast majority of capacity is concentrated in just seven countries,” Pike senior analyst Mackinnon Lawrence said, “but additional support from global financial markets and enhanced regional cooperation by institutions such as the World Bank and ARGeo, in Africa, will drive the development of new capacity in promising markets such as Kenya, Indonesia, and Turkey.”
Geothermal energy has been mostly neglected recently, with all of the governments and cleantech companies now focusing on solar and wind power. However, geothermal energy is one of the only resources that doesn’t produce CO2, but can instead help trapping enormous quantities of the greenhouse gas during the extraction process.