Alongside the increasing demand for electricity being driven by economic growth, the global demand for sustainable heat is also increasing. This demand has led to a growing trend in the use of geothermal resources for heating and cooling applications where technically and economically feasible.
Since 2000, the geothermal sector has grown at an average rate of around 3.5% annually to reach an installed capacity of 16 gigawatt electrical in 2021. There was a slight acceleration in growth of around 5% between 2015 – 2021, but this still accounted for a mere 0.5% of global installed renewable electricity capacity. Meanwhile, geothermal heating and cooling applications grew faster, by around 9% between 2015 – 2020 to reach 107 gigawatt thermal in 2020, representing around 3% of the global installed renewable heating and cooling capacity.
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