2024 RE statistics highlight lagging growth of geothermal for electricity

Carlo Cariaga | Source: Think Geo Energy | Posted 07/17/2024

The growth of the global geothermal power sector continues to lag behind other renewable energies, but there is still plenty of untapped potential for geothermal to contribute to the commercial heat market. This is some of the many insights from the Renewable Energy Statistics 2024 report published by the International Renewable Energy Agency.

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The global geothermal power sector, while trailing behind other renewable energy sources, still holds untapped potential in the commercial heat market, according to the Renewable Energy Statistics 2024 report by the International Renewable Energy Agency. The report provides comprehensive data on power generation capacity, actual power generation, and renewable energy balance for over 150 countries.

In 2022, renewable energy sources accounted for 29.1% of global electricity generation, with solar and wind energy driving most of the growth in the renewable electricity sector. Geothermal electricity generation remains comparatively low at 97 TWh, with Asia, particularly Indonesia and the Philippines, being significant contributors. The report also highlights the opportunity for geothermal power in the commercial heat market, where renewable energy penetration lags behind but presents a promising avenue for development.

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2024 RE statistics highlight lagging growth of geothermal for electricity

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