Power & Energy Trends

The increasing focus of several European, Asian, and North American countries on energy security and sustainable energy is one of the major factors fueling the demand for geothermal power across the world. The governments of these countries are taking initiatives for reducing their oil imports and reliance on non-renewable energy sources for power generation. For example, the European Union, under the Renewable Energy Directive (RED), aims to fulfill at least 20% of its power requirements with renewable energy by 2020. These initiatives are causing a massive surge in the demand for geothermal energy all over the world, which is, in turn, driving the expansion of the global geothermal power market. Geothermal power is basically the power produced from geothermal power plants from the heat energy stored under the crust. These plants use the steam generated from hot water reservoirs situated beneath the surface of the Earth. The steam is needed for rotating the turbine, which then produc...