Traditionally, public finance has provided most of the major source of funds for investment in infrastructure projects. The most significant data to be highlighted from this paper are: a total of 24 countries now generate electricity from geothermal resources the total installed capacity world An increase of about 2 GW (herein we use MW and GW for the electrical capacity and MWth and GWth for thermal capacity) in the five year term 2005-2010 has been achieved (about 22, following the rough linear trend of approximately 400 MW/year, with an evident increase of the average value of about 200 MW/year in the 2000-2005 period. Plants commissioned in 2010 (after WGC2010) have been included in the installed capacity, even though their produced energy has not been accounted for. Other updates have been collected from websites of private and public organizations involved in geothermal development. New data have been taken from WGC2010 country update reports, private communications from IGA members and affiliated organizations. We have analyzed the major activities carried out for geothermal electricity generation since WGC2005. This report is part of a project carried out by Climate Policy Initiative (CPI) for the Climate Investment Funds (CIFs) which will focus on the effective use of public finance to scale up geothermal deployment in developing countries. In addition, geothermal technologies that can harness lower temperature geothermal resources need to achieve more deployment to bring costs down. However, its rate of deployment has been slower than other renewables over the last thirty years and will need to speed up rapidly if this technology is to deliver on its promise. Its ability to provide low-cost, low-carbon power reliably and flexibly means is well-placed among to meet developing countries growing energy needs while displacing polluting fossil fuel power plants. The levelized cost of geothermal electricity is around 9-13 USDc/kWh, making it one of the cheapest renewable energy options available. Geothermal energy is broadly cost competitive with fossil fuel alternatives even without a carbon price. The research involved high-level dialogues between public and private sector stakeholders to share findings and promote discussion, and three case studies on geothermal projects in Turkey, Kenya and Indonesia. It can also provide a clean, reliable and flexible power source that could directly replace coal or gas in the electricity mix and complement higher penetrations of other, intermittent, renewable sources on the grid.ĬPI has conducted analysis on behalf of the Climate Investment Funds with the aim of helping policymakers and development finance institutions understand which policy and financing tools to use in order to enable fast and cost-effective deployment of geothermal for electricity. It is broadly cost competitive with fossil fuel alternatives across the world and is the cheapest source of available power in some developing countries with rapidly growing energy demand. Geothermal energy has the potential to provide significant amounts of low-carbon, low-cost electricity in many developing countries.
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