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Geothermal energy expected to more than double by 2030

Geothermal energy capacity will more than double by 2030 as developing economies including Indonesia, Chile and Kenya take advantage of natural resources, according to Bloomberg New Energy Finance.

Global capacity is estimated to reach 28.3 gigawatts in 62 markets in 2030, compared with 11.4 gigawatts in 25 markets last year, Mark Taylor, a New Energy Finance analyst, said today at the U.S. and International Geothermal Energy Finance Forum in New York.

“Geothermal is being seen as a development tool now, not just a niche market,” Taylor said. “It can be used as a driver of economic growth.”

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