Insight
Geothermal technologies: State of the market 2021
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Report summary
As demand for clean baseload power and heat grows, geothermal is back in the reckoning. The industry has historically struggled to grow due to lack of policy support and funding. That seems to be changing as net zero commitments expand and countries explore new technologies to diversify renewable energy sources beyond solar and wind. We estimate the world needs US$525 billion in capex by 2050 to build new capacity to decarbonise power generation and heat, and keep the average temperature increase well below 2 °C. Read the report to find out: - What is closed-loop geothermal and how it is different from conventional technologies? - What’s the upside for geothermal under accelerated energy transition scenarios? - How quickly does geothermal LCOE need to fall to compete with other dispatchable technologies? - Geothermal co-production opportunities in hydrogen, CCS and direct lithium extraction sectors
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