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ARTICLE · 04 FEBRUARY 2025

Drilling Down On Clean Energy: Geothermal Power Unlocked?

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Currently, geothermal energy meets less than 1% of global energy demand. Moreover, due to geographical limitations, only a handful of countries account for almost 90%...

United StatesEnergy and Natural Resources
Greenberg Traurig, LLP
Greenberg Traurig, LLP

Currently, geothermal energy meets less than 1% of global energy demand. Moreover, due to geographical limitations, only a handful of countries account for almost 90% of global power generation through geothermal sources. However, that landscape is poised to change as the potential for geothermal energy generation grows. According to a recent International Energy Agency (IEA) report, with continued technological advancements, geothermal energy could meet up to 15% of electricity demand growth by 2050, equivalent to around 800 GW of geothermal power capacity. In monetary terms, the IEA projects that total investment in geothermal energy could reach $1 trillion cumulatively by 2035 and $2.5 trillion by 2050, peaking at approximately $140 billion per year.

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