Power sourced from heat beneath the Earth’s surface could meet 15 percent of global electricity demand growth between now and 2050, but only with more government support, according to a new report from the International Energy Agency.
Currently, geothermal power provides less than 1 percent of the world’s electricity generation, trailing most other renewable energy sources. The technology has the potential, however, to compete with solar power both in cost and generating power, according to the report released last week by the France-based agency.
In total, the report found, countries could deploy as much as 800 gigawatts of geothermal power between now and 2050, enough annual output to meet the current electricity needs of the U.S. and India combined.
In the U.S. alone, geothermal power could produce more than one-eighth of the world’s output, with the potential for 70 terawatts of production, IEA said.
