- Key attribute of geothermal power generation as a cost-effective approach for the development of energy leading to substantial investments in installed capacity fuels the growth of the geothermal power generation market
- Critical advantages of negligible carbon dioxide emission, less land requirement, and 24-hr operational capacity favor commission of geothermal power generation plants
ALBANY, N.Y., May 4, 2022 /PRNewswire/ -- Analysts at TMR project the geothermal power generation market to expand at a CAGR of 13.38% over the forecast period from 2021 to 2031. Crucial environmental benefits of geothermal power generation plants, in terms of lower greenhouse gas emissions, reduced emission of air pollutants, and minimal use of water are fueling the growth of the geothermal power generation market.
Serving to be a cost-effective alternative for energy utilization, renewable characteristic of geothermal power generation is attracting investments for installed capacity.
Geothermal power generation plants use the binary cycle technology that emits virtually zero carbon dioxide and is thus, considered an attractive option for power generation from environmental compliance perspective.
Get PDF Brochure for More Insights – https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=1200
Geothermal power plants require much lesser land as compared to power plants from other sources that favors their establishment. High-capacity utilization, which implies increased power generation, and consequently higher revenue are some other factors favoring the commission of geothermal power plants. The 24-hour operational capacity of geothermal power plants is a distinction among other renewable energy power plants.
Geothermal Power Generation Market – Key Findings of Report
- Environmental benefits of geothermal energy, cost efficiency, improved scalability, and high-capacity utilization & stability that attract favorable regulatory policies fuel the growth of the geothermal power generation market. The renewable energy attribute of geothermal energy that has the capability to supply base load demand is promising for the growth of the geothermal power generation market.
- Technological advancement in geothermal power generation leading to the adoption of novel technologies such as binary cycle, flash steam, and dry steam is stimulating the commission of geothermal power generation plants. The binary cycle technology enables to harness geothermal energy even at low intensity heat places as extreme heat resources are not available in large parts of the world.
Get Covid 19 Analysis - https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=1200
- Pacific Rim is one of the most favorable locations to harness geothermal energy. This is due to extremely high underground temperatures of the region for setting-up of geothermal power generation plants.
- The flash steam technology segment is estimated to hold the leading share of the geothermal power generation market during the forecast period
- Prospects of development of geothermal power generation is leading to increased contribution from various entities to develop geothermal energy. Keen players in the geothermal power generation market are focusing on developing energy-efficient technologies to meet energy needs.
- North America is anticipated to be the frontrunner in the geothermal power generation market in the upcoming years. Rising installation of binary cycle power plants in the U.S. favors the growth of the geothermal power generation market in the region.
- Presence of a large number of geothermal energy resources in underdeveloped and unexplored regions of Asia Pacific to lead to the rapid expansion of the geothermal power generation market of the region
Request a Sample – https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1200
Geothermal Power Generation Market – Growth Drivers
- Crucial advantages of cost-effectiveness, availability of loans, affordable tariff, and renewable energy factor are propelling the geothermal power generation market
- Adoption of a slew of technologies such as binary cycle and dry steam that enables harnessing geothermal energy even at low quality heat regions stimulates the geothermal power generation market
Geothermal Power Generation Market – Key Players
Some of the key players operating in the geothermal power generation plants are;
- Ormat Technologies Inc.
- Calpine Corporation
- Ram Power Corporation
- US Geothermal Inc.
- CYRQ Energy Inc.
- Alterra Power Corporation
- Orkuveita Raykjavikur
- Northern California Power Agency
- Enel Green Power
Make an Enquiry Before Buying - https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=1200
Energy & Natural Resources Industry battles Tangible Impact of Economic and Cultural changes, Explore Transparency Market Research's award-winning coverage of the global Energy & Natural Resources:
Geothermal Drill Bits Market - https://www.transparencymarketresearch.com/geothermal-drill-bits-market.html
Geothermal District Heating Market - https://www.transparencymarketresearch.com/geothermal-district-heating-market.html
About Transparency Market Research
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyse information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
For More Research Insights on Leading Industries, Visit our YouTube channel - https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ
Contact
Rohit Bhisey
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
USA - Canada Toll Free: 866-552-3453
Email: [email protected]
Website: http://www.transparencymarketresearch.com
Press Release Source: https://www.transparencymarketresearch.com/pressrelease/geothermal-energy-market.htm
SOURCE Transparency Market Research
![](https://rt.prnewswire.com/rt.gif?NewsItemId=IO45848&Transmission_Id=202205040430PR_NEWS_USPR_____IO45848&DateId=20220504)
Share this article