New research estimates geothermal to grow by 9,000 MW until 2020
Solar will likely be the biggest winner but emerging economies in Asia-Pacific, South and Central America and the African continent have great geothermal potential that it is only beginning to be tapped.
In a recent article in Clean Technica, a report released by Global consulting firm Frost & Sullivan forecasts the “global installed capacity of renewable energy to more than double by 2025 — increasing from 1,566 GW in 2012 to 3,203 GW in 2025.”
“It is little wonder then that renewable energy installations have seen a gradual shift in market power to emerging economies,” said Frost & Sullivan Energy & Environmental Industry Director Harald Thaler. “On account of urbanisation, population growth, energy security concerns, and strong economic development, regions such as Asia, Latin America, the Middle East and Africa have increasingly been contributing to renewable energy capacity growth.”
Solar will likely be the biggest winner due to cheaper solar panels but emerging economies in Asia-Pacific, South and Central America and the African continent have great geothermal potential that it is only beginning to be tapped.
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Source: Clean Technica