Fitch Solutions: Indonesia a global outperformer in geothermal energy
According to Fitch Solutions, Indonesia has the potential to be the global leader in geothermal energy as long as they take advantage of massive growth opportunities.
With a total potential of up to 2 GW and second only to the US in terms of installed capacity, Fitch Solutions Macro Research considers Indonesia as one of the world’s outperformers in geothermal power. By hitting the average growth rate of 9.2 percent per year based on estimates, Indonesia will be on pace to overtake the US by 2022 and be the global geothermal leader.
However, Fitch Solutions have also identified factors in Indonesia that could hamper the growth of this industry such as low electricity tariffs, a preference for local firms, and a vast hydrocarbon reserve that encourages low-cost oil and gas development.
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Source: The Business Times