A new report from Pike Research shows that geothermal energy capacity could more than double by 2020.
The increase is thanks to a high level of new investment in geothermal power sources.
Geothermal resources can be tapped to provide a clean and steady base load of electricity production — without weather-dependent fluctuations. Projects such as U.S. Geothermal's Neal Hot Springs development in eastern Oregon have attracted large investments, including a $96.8 million loan guarantee from the U.S. Department of Energy finalized late last month.
A new report from Colorado-based Pike Research maps out a high-growth scenario with a 134 percent increase in total geothermal capacity between 2010 and 2020. That scenario would more than double the current 10.7 gigawatt capacity to 25.1 gigawatts. A more conservative scenario would increase capacity by 34 percent to 14.3 gigawatts. One gigawatt would power about 600,000 homes.
Read more at Sustainable Business Oregon.