Geothermal power presently supplies the world with 10,715 Megawatts of electricity in 24 countries on six continents. The potential to use geothermal resources is much greater. With the technology available today and under development for the future, geothermal resources could supply more than 300,000 Megawatts of power, while producing far fewer carbon emissions than from legacy sources.
"Geothermal energy can provide competitively priced, renewable, round-the-clock energy to the markets our organizations represent and beyond that. At the same time geothermal energy can be a part of the solution to growing concerns about securing sustainable, cost-effective energy sources," said Alexander Richter, Director of the Canadian Geothermal Energy Association.
The United States ranks No. 1 in geothermal energy production and continues to be one of the leading countries in geothermal growth. The total installed capacity of the U.S. is approximately 3,102 MW, enough to power over 2 million homes.
The Geothermal energy industry is expected to grow tremendously in 2011. Karl Gawell, Executive Director/ President of the Geothermal Energy Association (GEA) say that the American Reinvestment and Recovery Act (ARRA) will be the underlining magical portion of its success. In 2011, Gawell forecasted that there will be 500 to 700 MW of new geothermal projects in the country.