Geothermal energy sector is one of the fastest developing sectors of renewable energy in the world. According to recent reports of global geothermal capacity has increased by over 20% in the last five years, and many new countries have shown interest in the addition of geothermal energy portfolios.
Since our planet is in constant state of production of internal heat geothermal energy can be harnessed in many different places around the world, despite the best places for the use of geothermal resources are still areas near the tectonic plates because these areas have the maximum heat due to the very explicit volcanic activity.
Geothermal energy use in the world to meet their energy needs, the better, because this also means less fossil fuel. Unfortunately, geothermal energy still needs to work on their cost competitiveness with fossil fuels to make a real difference. Drilling costs are generally those which add more to the costs, but there are some promising technologies such as EGS (Enhanced Geothermal System)) that may reduce these high capital costs in the coming years, and this technology more cost-competitive with fossil fuels.
The United States at the forefront of the total installed capacity of 3086 MW geothermal energy with geothermal capacity installed, followed by countries like the Philippines, Indonesia and Mexico.
It is also good to see that geothermal energy is also increasing in popularity in Europe, which together with Italy, some other countries such as Great Britain, France and Germany has also shown an increased interest in new geothermal power projects.