The Future of Geothermal Energy
The LCOE of geothermal energy projected to drop down to $50/MWh in the next 10 years.
The LCOE of geothermal energy projected to drop down to $50/MWh in the next 10 years.
The International Energy Agency (IEA) shared its latest [December 2024] report on the new chapter of geothermal, a clean, versatile, and secure energy available everywhere, that is on a trajectory to providing 15% of electricity generation growth by 2050.
By their conservative estimates the levelized cost of electricity [LCOE] for geothermal 2.0 will come down to $50/MWh in the next 10 years particularly by a high level of tech transfer from oil & gas. To achieve this it is also going to take favorable policies and about a trillion dollars of investment by 2035 [the same that solar has seen in the last 3 years and wind in the last 7].
The full special report is available here: https://lnkd.in/g6YM3R7y
IEA's video below is a 13 minutes reel of highlights instead of the full 40 minutes available here: https://lnkd.in/g9hA8Dnm.
