Geothermal power moves ahead

Tighter emissions controls and rising fuel costs are spurring demand for renewable energy, prompting utilities around the world to tap underground resources previously considered too costly to develop. Global geothermal capacity will rise as much as 10 percent a year through 2010, three times the pace of the past decade, the International Geothermal Association forecasts.

Geothermal plants, which use energy from hot springs or underground steam fields to produce power, are not affected by oil prices, which doubled in the past three years, and they face no emission penalties. Unlike wind- or solar-powered plants, they are not weather-dependent and can run 24 hours a day.
Geothermal plants still account for just 9,300 megawatts of generation capacity worldwide — a tiny fraction of the 4,100-gigawatt total, most of which is fueled with coal and natural gas.

Geothermal also trails other renewables. Hydroelectric generators have 816 gigawatts of capacity and wind farms account for 59 gigawatts, according to the Paris-based Renewable Energy Policy Network.

Harnessing geothermal energy involves higher initial investments, sometimes requiring years of drilling to map underground heat sources.

But the potential for growth is attracting investment.

International Herald Tribune