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Geothermal Energy Markets: Technologies and Products Worldwide

Introduction Cost volatility and depletion of fossil fuels, along with scrutiny into the emissions of fossil fuel burning power plants have driven demand for both cleaner sources of energy and cleaner results from generating that energy. Advances in geothermal technology have now positioned renewable geothermal energy systems as a clean and economically viable alternative. Geothermal electric generation systems are increasingly leveraged to supplement and substitute conventional fuel sources around the world. In 2008, about 61 billion kilowatts of electricity were generated from geothermal electric power plants. Geothermal electricity now accounts for 0.3% of the world’s electric consumption.

Compared to conventional natural gas or fuel oil heat and air heat pumps, geothermal heat pumps offer many advantages. They have low operating, maintenance, and life cycle costs and a longer life expectancy than most conventional systems. Geothermal heat pumps leverage a renewable resource and are environmentally friendly. The global installed base of geothermal heat pump systems increased by nearly 61% from 1.065 million units in 2004 to 1.712 million in 2008.

Geothermal Energy Markets: Technologies and Products Worldwide includes a broad review of the global geothermal power systems and geothermal heat pump markets. The report provides a discussion of the technology utilized in geothermal energy production and recent technology enhancements. Historical and forecast (2004-2013) demand for each product type in power systems and heat pumps is quantified and projections for growth in demand are provided, along with the key factors influencing this growth. The report also provides profiles of companies active in geothermal energy production and geothermal heat pumps.

Report Methodology

The information in Geothermal Energy Markets: Technologies and Products Worldwide is based on primary and secondary research. Primary research entailed in-depth interviews with firms involved in the exploration and development of geothermal sites, consultants to the industry, and manufacturers of geothermal heat pumps to obtain information on developing technologies and factors shaping the industry. Secondary research entailed data gathering from relevant sources, including government and industry publications, company literature, and corporate annual reports.

What You’ll Get in This Report

Geothermal Energy Markets: Technologies and Products Worldwide contains important insights and projections regarding the future of this market around the world. No other market research report provides both the comprehensive analysis and extensive data that Geothermal Energy Markets: Technologies and Products Worldwide offers. Subscribers will benefit from extensive data, presented in easy-to-read and practical charts, tables and graphs.

How You’ll Benefit from This Report

If your company is already doing business in the geothermal power or geothermal heat pump market, or is considering entering the marketplace, you will find this report invaluable, as it provides a comprehensive package of information and insight not offered in any other single source. You will gain a thorough understanding of the current global market for geothermal power and geothermal heat pumps, as well as projected markets and trends through 2013.

This report will help:

  • Marketing managers understand the market forces shaping the geothermal industry and identify market opportunities.

  • Research and development professionals stay on top of competitor initiatives and explore demand for geothermal power and geothermal heat pumps.

  • Business development executives understand the dynamics of the market and identify possible partnerships.

  • Information and research center librarians provide market researchers, product managers, and other colleagues with the vital information they need to do their jobs more effectively.


Market Insights: A Selection From The Report


Geothermal energy production is an emerging industry. Technology development in recent years has focused on:

  • Increasing the range of feasible locations for geothermal energy systems,
  • Improving the efficiency and effectiveness of geothermal heat extraction and conversion,
  • Improving the cost structure of geothermal energy solutions, and
  • Improving subsurface technologies such as exploration, drilling, and resource management.

Demand for Energy
Demand for electrical energy is expanding not only due to global population growth but also due to significant increases in per capita consumption of electricity in many countries around
the world as they transition into developed economies. Global electric demand continues to grow at about 1% per year overall. At the same time, most conventional power plants depend
on depleting fossil fuels, limiting their ability to power growing energy demands in the long run. Renewable energy sources such as wind, solar, and geothermal are expected to play an
increasingly important role in meeting current and future global energy demands.

Economic Factors
Most renewable energy generation technologies are as yet unable to compete favorably against the significantly more mature conventional fuel conversion technologies.
Consequently, only a small portion of the world’s energy demand is currently met by these emerging power generation technologies.

Compared to other clean and renewable technologies like solar, geothermal power production is currently much more economical. Geothermal is also less expensive than clean, yet nonrenewable,
nuclear energy. Although initial investment costs are high, they are offset by the significant reduction in ongoing fuel and transportation costs over the life of the plant.

As geothermal technologies mature and enable further cost reductions, and the costs of depleting conventional fuels continue to escalate over the next 10 to 50 years, geothermal
power is expected to meet and exceed the cost benchmarks of conventional power systems.

In the News


Demand for Cleaner Energy Sources Equals Coup for Renewable Geothermal Energy Markets Worldwide

New York, March 26, 2009 - The renewable resource coup is officially on, and geothermal energy markets are poised to benefit as countries and consumers worldwide become increasingly dissatisfied with the status quo cost volatility and depletion of fossil fuels commonly linked to most conventional power plants. Technological advances have made geothermal energy a clean and economically viable alternative that can provide electricity while maintaining a relatively benign relationship with the environment. As a result, geothermal electric generation systems are increasingly being leveraged to supplement and substitute conventional fuel sources around the world.

In the brand-new report, Geothermal Energy Markets: Technologies and Products Worldwide, industrial market research publisher SBI reveals that global installed capacity of geothermal power plants grew by over 3.3% per year from 8.7 gigawatts in 2004 to nearly 10 gigawatts in 2008. SBI research further indicates that almost 61 billion kilowatts of electricity were generated from global geothermal electric power plants in 2008, accounting for 0.3% of the world’s electric consumption. The value of global geothermal electricity generated was nearly $6 billion last year based on the levelized cost of production.

Though the existing pipeline of planned geothermal installations indicates a potentially higher growth rate, SBI‘s prediction for growth of global geothermal electricity generation is somewhat modest due to current recessionary economic conditions and limited availability of investment capital. SBI forecasts a moderate increase of 2% per year from 60,928 million kilowatt hours (M kWh) in 2008 to 67,120 M kWh in 2013. Factors projected to favorably impact future growth will be the expected swelling of the world’s population and greater demand for energy from developing nations in transition.

“Demand for electrical energy is expanding not only due to global population growth, but also due to significant increases in per capita consumption of electricity in many countries around the world as they transition into developed economies. Global electric demand continues to grow about 1% per year overall. At the same time, most conventional power plants depend on depleting fossil fuels, limiting their ability to power growing energy demands in the long run. Unsurprisingly, renewable energy sources such as geothermal, wind, and solar are expected to play an increasingly important role in meeting current and future global energy demands,’’ says SBI Associate Publisher Shelley Carr.”

Geothermal Energy Markets: Technologies and Products Worldwide features a broad review of the global geothermal power systems and geothermal heat pump markets, and provides important insights and projections regarding the future of these markets around the world. Discussion of the technology utilized in geothermal energy production and recent technological enhancements are included, in addition to an examination of key historical and forecast (2008-2013) factors influencing demand and growth. Profiles of companies active in geothermal energy production and geothermal heat pumps are also provided.

About SBI
SBI (Specialists in Business Information) publishes research reports in the industrial, energy, building/construction, automotive/transportation and packaging markets. SBI also offers a full range of custom research services.

 

  • Executive Summary
    • Geothermal Energy Technologies
      • Geothermal Power Systems
        • Table World Electricity Generated from Geothermal, 2008
      • Geothermal Power Market Size
        • Table U.S. Electricity Cost by Energy Source, 2008 (cost per kilowatt hours in cents)
      • Direct Use Geothermal Systems
      • Geothermal Heat Pumps
      • Geothermal Heat Pump Market Size
      • Geothermal Heat Pump Market Factors
      • Geothermal Heat Pump Market Forecast
      • Report Scope
      • Report Format
      • Report Methodology
      • Abbreviations
        • Table Abbreviations Utilized in Report
  • Geothermal Energy Technologies
    • Overview
      • History of Geothermal Energy
      • Geothermal Technologies
        • Table World Electricity Generated from Geothermal, 2008
      • Traditional and Alternative Energy Technologies
        • Table World Electricity Generated from Natural Gas, 2008
        • Table World's Proved Reserves of Natural Gas, 2008 (in trillions of cubic meters)
        • Table World Electricity Generated from Coal, 2008
        • Table Top Five Producers of World Hard Coal, 2008 (in millions of tonnes)
        • Table World Electricity Generated from Nuclear, 2008
        • Table World Electricity Generated from Hydroelectric, 2008
        • Table World Electricity Generated from Wind, 2008
        • Table World Electricity Generated from Solar, 2008
      • Advantages of Geothermal Energy
      • Disadvantages of Geothermal Energy
  • Market Size and Growth
    • Overview
    • Geothermal Energy Market
      • Geothermal Power Market Size
        • Table World Geothermal Power Plants by Country, 2008
      • Geothermal Energy Market Factors
        • Table U.S. Geothermal Energy Production Potential by State, 2008
        • Table US Electricity Cost by Energy Source, 2008 (cost per kilowatt hours in cents)
      • Geothermal Power Market Forecast
        • Table U.S. Geothermal Projects in Progress, by State, 2008
    • Geothermal Heat Pumps
      • Geothermal Heat Pump Market Size
      • Geothermal Heat Pump Market Factors
      • Geothermal Heat Pump Market Forecast
        • Table Projected U.S. Sales of Geothermal Heat Pumps, 2009-2013 (in millions of dollars)
      • Geothermal Energy Equipment Manufacturers
        • Table World Geothermal Equipment Manufacturers, 2008
  • Market Trends
    • Geothermal Power Systems Market Forces
      • Table World Output Growth, 2007-2010 (percent year over year)
      • Table Electric Power Plant Costs, by Fuel Type, 2008 (in dollars/kilowatt of plant capacity)
      • Table Levelized Electricity Costs, by Fuel Type, 2008 (¢/kilowatt hours)
      • Table Average Electric Power Plant Emission Rates by Fuel Source, 2008 (in pounds/megawatt hours)*
      • Table Renewable Portfolio Standards for Selected Countries, 2008 (percent)
      • United States
        • Table US Renewable Portfolio Standards by State, 2008 (percent)
      • Philippines
      • Indonesia
      • Australia
      • European Union Renewable Energy Directive
        • Table Contribution of Renewables to EU Electricity Consumption, 2005-2020 (in terrawatt hours)
      • Geothermal Power Demand
    • Geothermal Heat Pumps Market Forces
      • Table Value of U.S. Construction by Segment, 2007 to 2008 (in billions of dollars)
      • Geothermal Heat Pump Demand
  • Product and Industry Trends
    • Overview
      • Market Factors
      • Technology Development
      • Industry Activity
      • Government Initiatives
  • Competitive Profiles
    • Overview
    • Calpine
      • Table Calpine
      • Corporate Background
      • Product and Brand Portfolio
        • Table Calpine Energy Generation Portfolio (capacity in megawatts)
      • Performance
      • Acquisitions and Divestitures
      • Innovation
      • Outlook
      • Personnel Changes
    • Chevron Corporation
      • Table Chevron Corporation
      • Corporate Background
      • Product and Brand Portfolio
        • Table Chevron's Market and Segment Portfolio
      • Performance
      • Acquisitions and Divestitures
      • Innovation
      • Outlook
      • Personnel Changes
    • ClimateMaster
      • Table ClimateMaster
      • Corporate Background
      • Product and Brand Portfolio
        • Table ClimateMaster's Product and Brand Portfolio
      • Performance
      • Acquisitions and Divestitures
      • Innovation
      • Outlook
      • Personnel Changes
    • Davenport Power, LLC
      • Table Davenport Power, LLC
      • Corporate Background
      • Product and Brand Portfolio
        • Table Davenport Power, LLC Geothermal Portfolio
      • Performance
      • Acquisitions and Divestitures
      • Innovation
      • Outlook
      • Personnel Changes
    • ECONAR GeoSystems, LLC
      • Table ECONAR GeoSystems, LLC
      • Corporate Background
      • Product and Brand Portfolio
        • Table ECONAR's Product and Brand Portfolio
      • Performance
      • Acquisitions and Divestitures
      • Innovation
      • Outlook
      • Personnel Changes
    • Enel North America Incorporated
      • Table Enel North America Incorporated
      • Corporate Background
      • Product and Brand Portfolio
        • Table Enel North America, Inc. Portfolio for Geothermal
      • Performance
      • Acquisitions and Divestitures
      • Innovation
      • Outlook
      • Personnel Changes
    • Florida Heat Pump
      • Table Florida Heat Pump
      • Corporate Background
        • Table FHP's Product and Brand Portfolio
      • Performance
      • Acquisitions and Divestitures
      • Innovation
      • Outlook
      • Personnel Changes
    • Fuji Electric Systems Company Limited
      • Table Fuji Electric Systems Company Limited
      • Corporate Background
      • Product and Brand Portfolio
        • Table Fuji's Product and Brand Portfolio
      • Performance
        • Table Fuji's Global Supply of Thermal and Geothermal Power Plants
      • Acquisitions and Divestitures
      • Innovation
      • Outlook
      • Personnel Changes
    • Geothermal Development Associates
      • Table Geothermal Development Associates
      • Corporate Background
      • Product and Brand Portfolio
        • Table Geothermal Development Associates Portfolio for Geothermal Consulting Services
      • Performance
      • Acquisitions and Divestitures
      • Innovation
      • Outlook
      • Personnel Changes
    • MidAmerican Energy Holdings
      • Table MidAmerican Energy Holdings
      • Corporate Background
      • Product and Brand Portfolio
        • Table MidAmerican Portfolio for Energy and Subsidiaries
      • Performance
      • Acquisitions and Divestitures
      • Innovation
      • Outlook
      • Personnel Changes
    • Mitsubishi Heavy Industries Limited
      • Table Mitsubishi Heavy Industries Limited
      • Corporate Background
        • Table Mitsubishi's Geothermal Product and Brand Portfolio
      • Performance
      • Company News
      • Acquisitions and Divestitures
      • Innovation
      • Outlook
      • Personnel Changes
    • Nevada Geothermal Power Incorporated
      • Table Nevada Geothermal Power Incorporated
      • Corporate Background
      • Product and Brand Portfolio
        • Table Nevada Geothermal Power Inc.'s Portfolio for Geothermal Energy
      • Performance
      • Acquisitions and Divestitures
      • Innovation
      • Outlook
      • Personnel Changes
    • Northern California Power Agency
      • Table Northern California Power Agency
      • Corporate Background
      • Product and Brand Portfolio
        • Table Northern California Power Agency's Energy Portfolio
      • Performance
      • Acquisitions and Divestitures
      • Innovation
      • Outlook
      • Personnel Changes
    • Nuovo Pignone
      • Table Nuovo Pignone
      • Corporate Background
      • Product and Brand Portfolio
      • Performance
      • Acquisitions and Divestitures
      • Innovation
      • Outlook
      • Personnel Changes
    • Ormat Technologies Incorporated
      • Table Ormat Technologies Incorporated
      • Corporate Background
      • Product and Brand Portfolio
        • Table Ormat's Product and Brand Portfolio
      • Performance
      • Acquisitions and Divestitures
      • Innovation
      • Outlook
      • Personnel Changes
    • Sierra Geothermal Power Corporation
      • Table Sierra Geothermal Power Corporation
      • Corporate Background
      • Product and Brand Portfolio
        • Table Sierra Geothermal Power Corporation's Energy Portfolio
      • Performance
      • Acquisitions and Divestitures
      • Innovation
      • Outlook
      • Personnel Changes
    • Terra-Gen Power
      • Table Terra-Gen Power
      • Corporate Background
      • Product and Brand Portfolio
        • Table Terra-Gen Power's Product and Brand Portfolio
      • Performance
      • Acquisitions and Divestitures
      • Innovation
      • Outlook
      • Personnel Changes
    • WaterFurnace International, Incorporated
      • Table WaterFurnace International, Incorporated
      • Corporate Background
        • Table WaterFurnace's Product and Brand Portfolio
      • Performance
      • Acquisitions and Divestitures
      • Innovation
      • Outlook
      • Personnel Changes
  • Glossary of Terminology

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