Geothermal 'competitive' with other sources, study claims

Geothermal energy is competitive with rival power sources – including other renewables – claims a report.

Analyst Frost & Sullivan says geothermal enjoys a low levelised-cost-of-energy and currently benefits from government renewables support programmes in the US, Canada and key European markets such as Germany.

“In most regions, energy from geothermal sources is less expensive than wind, solar and biomass power,” claims its new study Global Geothermal Power Market.

The analyst says the geothermal sector generated revenues of about $1.16bn in 2010, a figure it expects to reach $5.89bn in 2017.

Frost & Sullivan cites the difficulty identifying resources and the relatively high plant set-up costs as some Log in to read complete article.

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