Cost volatility and depletion of fossil fuels, along with scrutiny into the emissions of fossil fuel burning power plants have driven demand for both cleaner sources of energy and cleaner results from generating that energy. Advances in geothermal technology have now positioned renewable geothermal energy systems as a clean and economically viable alternative. Geothermal electric generation systems are increasingly leveraged to supplement and substitute conventional fuel sources around the world. In 2008, about 61 billion kilowatts of electricity were generated from geothermal electric power plants. Geothermal electricity now accounts for 0.3% of the world’s electric consumption.

Compared to conventional natural gas or fuel oil heat and air heat pumps, geothermal heat pumps offer many advantages. They have low operating, maintenance, and life cycle costs and a longer life expectancy than most conventional systems. Geothermal heat pumps leverage a renewable resource and are environmentally friendly. The global installed base of geothermal heat pump systems increased by nearly 61% from 1.065 million units in 2004 to 1.712 million in 2008.

Geothermal Energy Markets: Technologies and Products Worldwide includes a broad review of the global geothermal power systems and geothermal heat pump markets. The report provides a discussion of the technology utilized in geothermal energy production and recent technology enhancements. Historical and forecast (2004-2013) demand for each product type in power systems and heat pumps is quantified and projections for growth in demand are provided, along with the key factors influencing this growth. The report also provides profiles of companies active in geothermal energy production and geothermal heat pumps.

Report Methodology

The information in Geothermal Energy Markets: Technologies and Products Worldwide is based on primary and secondary research. Primary research entailed in-depth interviews with firms involved in the exploration and development of geothermal sites, consultants to the industry, and manufacturers of geothermal heat pumps to obtain information on developing technologies and factors shaping the industry. Secondary research entailed data gathering from relevant sources, including government and industry publications, company literature, and corporate annual reports.

What You’ll Get in This Report

Geothermal Energy Markets: Technologies and Products Worldwide contains important insights and projections regarding the future of this market around the world. No other market research report provides both the comprehensive analysis and extensive data that Geothermal Energy Markets: Technologies and Products Worldwide offers. Subscribers will benefit from extensive data, presented in easy-to-read and practical charts, tables and graphs.

How You’ll Benefit from This Report

If your company is already doing business in the geothermal power or geothermal heat pump market, or is considering entering the marketplace, you will find this report invaluable, as it provides a comprehensive package of information and insight not offered in any other single source. You will gain a thorough understanding of the current global market for geothermal power and geothermal heat pumps, as well as projected markets and trends through 2013.

This report will help:

• Marketing managers understand the market forces shaping the geothermal industry and identify market opportunities.
  
  
• Research and development professionals stay on top of competitor initiatives and explore demand for geothermal power and geothermal heat pumps.
  
  
• Business development executives understand the dynamics of the market and identify possible partnerships.
  
  
• Information and research center librarians provide market researchers, product managers, and other colleagues with the vital information they need to do their jobs more effectively.

Chapter 1: Executive Summary

Geothermal Energy Technologies

Geothermal Power Systems

Table 1-1: World Electricity Generated from Geothermal, 2008

Geothermal Power Systems Technologies

Dry Steam

Flash Steam

Binary Cycle

Flash -Binary Combined Cycle

Enhanced Geothermal Systems

Hot Dry Rock System

Hydrocarbon/Geothermal Co-Production

Geo-Pressure Systems

Geothermal Power Market Size

Figure 1-1: World Geothermal Electric Power Capacity, 2004-2008 (in megawatts)

Figure 1-2: World Geothermal Electric Power Capacity by Country, 2008 (in megawatts and percent)

Figure 1-3: World Geothermal Electric Power Generation, 2004-2008 (in millions of kilowatt hours)

Figure 1-4: World Geothermal Electric Power Generation by Country, 2008 (in millions of kilowatt hours and percent).

Geothermal Power Market Factors

Location and Accessibility of Resources

Technological Developments

Demand for Energy

Economic Factors

Table 1-2: U.S. Electricity Cost by Energy Source, 2008 (cost per kilowatt hours in cents)

Environmental Factors

Investment Climate

Government Policy and Incentives

Consumer Perceptions

Geothermal Energy Market Forecast

Figure 1-5: World Geothermal Electric Power Generation, 2009-2013 (in millions of kilowatt hours)

Figure 1-6: Value of Geothermal Electricity Generated, 2008-2013 (in millions of dollars)

Direct Use Geothermal Systems

Geothermal Heat Pumps

Geothermal Heat Pump Market Size

Figure 1-7: World Geothermal Heat Pump Installed Base, 2004-2008 ('000 units)

Figure 1-8: World Geothermal Heat Pump Installed Base by Country, 2008 (percent share)

Geothermal Heat Pump Market Factors

Environmental Factors

Cost Factors

Government Policy and Incentives

Geothermal Heat Pump Market Forecast

Figure 1-9: World Geothermal Heat Pump Installed Base, 2009-2013 ('000 units)

Report Scope

Report Format

Report Methodology

Abbreviations

Table 1-3: Abbreviations Utilized in Report

Chapter 2: Geothermal Energy Technologies

Overview

History of Geothermal Energy

Geothermal Technologies

Geothermal Power Systems

Table 2-1: World Electricity Generated from Geothermal, 2008

Hydrothermal Reservoirs

Dry Steam

Figure 2-1: Dry Steam Geothermal Plant

Flash Steam

Figure 2-2: Flash Steam Geothermal Power Plant

Figure 2-3: Double-Flash Steam Geothermal Power Plant

Binary Cycle

Figure 2-4: Binary Cycle Geothermal Plant

Flash-Binary Combined Cycle

Selection of Conversion Technology

Advanced Conversion Technologies

Enhanced Geothermal Systems

Supercritical Carbon Dioxide

Hot Dry Rock System

Hydrocarbon/Geothermal Co-Production

Geo-Pressure Systems

Direct Use Geothermal Systems

Figure 2-5: Direct Use Geothermal System

Geothermal Heat Pumps

Closed-Loop Horizontal

Figure 2-6: Closed-Loop Horizontal Geothermal Heat Pump System

Closed-Loop Vertical

Figure 2-7: Closed-Loop Vertical Geothermal Heat Pump System

Closed-Loop Pond/Lake

Figure 2-8: Closed-Loop Pond/Lake Geothermal Heat Pump System

Open-Loop System

Figure 2-9: Open-Loop Geothermal Heat Pump System

Direct Exchange Geothermal Heat Pumps

Advantages of Geothermal Heat Pump Systems

Traditional and Alternative Energy Technologies

Natural Gas

Fuel Conversion

Electricity Generation and Sustainability

Table 2-2: World Electricity Generated from Natural Gas, 2008

Table 2-3: World’s Proved Reserves of Natural Gas, 2008 (in trillions of cubic meters)

Environmental Impact

Coal

Fuel Conversion

Electricity Generation and Sustainability

Table 2-4: World Electricity Generated from Coal, 2008

Table 2-5: Top Five Producers of World Hard Coal, 2008 (in millions of tonnes)

Environmental Impact

Nuclear

Fuel Conversion

Electricity Generation and Sustainability

Table 2-6: World Electricity Generated from Nuclear, 2008

Environmental Impact

Hydroelectric

Electricity Generation and Sustainability

Table 2-7: World Electricity Generated from Hydroelectric, 2008

Environmental Impact

Wind

Electricity Generation and Sustainability

Table 2-8: World Electricity Generated from Wind, 2008

Environmental Impact

Solar

Electricity Generation and Sustainability

Table 2-9: World Electricity Generated from Solar, 2008

Environmental Impact

Advantages of Geothermal Energy

Reliable

Renewable

Clean

Domestic

Disadvantages of Geothermal Energy

Site Location and Exploration

Startup Cost

Solid Waste Generation and Corrosive Fluid Containment

Land Subsidence

Earthquake Induction

Chapter 3: Market Size and Growth

Overview

Geothermal Energy Market

Geothermal Power Market Size

Figure 3-1: World Geothermal Electric Power Capacity, 2004-2008 (in megawatts)

Figure 3-2: World Geothermal Electric Power Capacity by Country, 2008 (in megawatts and percent)

Figure 3-3: World Geothermal Electric Power Generation, 2004-2008 (in millions of kilowatt hours)

Figure 3-4: World Geothermal Electric Power Generation by Country, 2008 (in millions of kilowatt hours and percent).

United States

Figure 3-5: US Geothermal Electric Power Capacity, 2004-2008 (in megawatts)

Figure 3-6: US Geothermal Electric Power Generation, 2004-2008 (in millions of kilowatt hours)

Figure 3-7: US Geothermal Electric Power Capacity by State, 2008 (in megawatts and percent)

California

Other States

Table 3-1: World Geothermal Power Plants by Country, 2008

Philippines

Indonesia

Mexico

Italy

Japan

New Zealand

Iceland

Costa Rica

El Salvador

Geothermal Energy Market Factors

Location and Accessibility of Resources

Figure 3-8: Geothermal Natural Resources in the United States

Technological Developments

Table 3-2: U.S. Geothermal Energy Production Potential by State, 2008

Demand for Energy

Economic Factors

Table 3-3: U.S. Electricity Cost by Energy Source, 2008 (cost per kilowatt hours in cents)

Environmental Factors

Investment Climate

Government Policy and Incentives

Consumer Perceptions

Geothermal Power Market Forecast

Figure 3-9: World Geothermal Electric Power Generation, 2009-2013 (millions per kilowatt hours)

Figure 3-10: U.S. Geothermal Electric Power Generation, 2009-2013 (millions per kilowatt hours)

United States

Table 3-4: U.S. Geothermal Projects in Progress, by State, 2008

Figure 3-11: Value of Geothermal Electricity Generated, 2008-2013 (in millions of dollars)

Philippines

Indonesia

Japan

New Zealand

Costa Rica

Geothermal Heat Pumps

Geothermal Heat Pump Market Size

Figure 3-12: World Geothermal Heat Pump Installed Base, 2004-2008 ('000 units)

Figure 3-13: World Geothermal Heat Pump Installed Base by Country, 2008 (percent share)

Figure 3-14: U.S. Geothermal Heat Pump Shipments, 2004-2008 ('000 units)

Figure 3-15: U.S. Geothermal Heat Pump Installed Base, 2004-2008 ('000 units)

Figure 3-16: U.S. GHP Shipments Total Rated Capacity, 2004-2008 ('000 tons)

Geothermal Heat Pump Market Factors

Environmental Factors

Cost Factors

Government Policy and Incentives

Geothermal Heat Pump Market Forecast

Figure 3-17: World Geothermal Heat Pump Installed Base, 2009-2013 ('000 units)

Figure 3-18: U.S. Geothermal Heat Pump Installed Base, 2009-2013 ('000 units)

Table 3-5: Projected U.S. Sales of Geothermal Heat Pumps, 2009-2013 (in millions of dollars)

Figure 3-19: Global Installed Value of Geothermal Heat Pumps, 2008-2013 (in millions of dollars)

Geothermal Energy Equipment Manufacturers

Table 3-6: World Geothermal Equipment Manufacturers, 2008

Chapter 4: Market Trends

Geothermal Power Systems Market Forces

Macroeconomic Conditions

Table 4-1: World Output Growth, 2007-2010 (percent year over year)

Investment Climate

Cost Factors

Table 4-2: Electric Power Plant Costs, by Fuel Type, 2008 (in dollars/kilowatt of plant capacity)

Table 4-3: Levelized Electricity Costs, by Fuel Type, 2008 (¢/kilowatt hours)

Environmental Trends

Table 4-4: Average Electric Power Plant Emission Rates by Fuel Source, 2008 (in pounds/megawatt hours)*

Government Mandated Emissions Standards

Energy Security

Economic Benefits

Government Incentives

Government Mandated Renewable Energy Targets

Table 4-5: Renewable Portfolio Standards for Selected Countries, 2008 (percent)

United States

Table 4-6: US Renewable Portfolio Standards by State, 2008 (percent)

Philippines

Indonesia

Australia

European Union Renewable Energy Directive

Table 4-7: Contribution of Renewables to EU Electricity Consumption, 2005-2020 (in terrawatt hours)

Geothermal Power Demand

Electricity Demand

Figure 4-1 World Electricity Generation, 2005-2015 (in trillions of kilowatt hours)

Figure 4-2 World Electricity Generation, by Fuel Type, 2005-2015 (in trillions of kilowatt hours)

Geothermal Power Supply

Figure 4-3 World Geothermal Electric Power Generation Volume and Value, 2008-2013 (in millions of kilowatt hours and millions of dollars)

Figure 4-4 U.S. Geothermal Electric Power Generation Volume and Value, 2008-2013 (in millions of kilowatt hours and millions of dollars)

Geothermal Heat Pumps Market Forces

Macroeconomic Conditions

Table 4-8: Value of U.S. Construction by Segment, 2007 to 2008 (in billions of dollars)

Figure 4-5 U.S. Building Permits and GHP Shipments, 2004-2008 (relative change)

Cost Factors

Environmental Trends

Energy Security

Figure 4-6 Energy Consumption of GHPs (relative consumption)

Economic Benefits

Government Incentives

United States

Canada

Geothermal Heat Pump Demand

Figure 4-7: World GHP Installed Base Volume and Value, 2008-2013 (in millions of dollars and ‘000 units)

Figure 4-8: U.S. GHP Installed Base Volume and Value, 2008-2013 (in millions of dollars and ‘000 units)

Chapter 5: Product and Industry Trends

Overview

Market Factors

Technology Development

Enhanced Geothermal Systems

Hydrocarbon Co-Production

Modular Power Plant Design

Patent Activity

Technology Awards

Industry Activity

Recent Investment

Government Initiatives

United States

Indonesia

Philippines

Japan

Australia

Africa

Hungary

Portugal

Chapter 6: Competitive Profiles

Overview

Company Profiles

Calpine

Corporate Background

Product and Brand Portfolio

Table 6-1: Calpine Energy Generation Portfolio (capacity in megawatts)

Performance

Acquisitions and Divestitures

Innovation

Outlook

Personnel Changes

Chevron Corporation

Corporate Background

Product and Brand Portfolio

Table 6-2: Chevron’s Market and Segment Portfolio

Performance

Acquisitions and Divestitures

Innovation

Outlook

Personnel Changes

ClimateMaster

Corporate Background

Product and Brand Portfolio

Table 6-3: ClimateMaster’s Product and Brand Portfolio

Performance

Acquisitions and Divestitures

Innovation

Outlook

Personnel Changes

Davenport Power, LLC

Corporate Background

Product and Brand Portfolio

Table 6-4: Davenport Power, LLC Geothermal Portfolio

Performance

Acquisitions and Divestitures

Innovation

Outlook

Personnel Changes

ECONAR GeoSystems, LLC

Corporate Background

Product and Brand Portfolio

Table 6-5: ECONAR’s Product and Brand Portfolio

Performance

Acquisitions and Divestitures

Innovation

Outlook

Personnel Changes

Enel North America Incorporated

Corporate Background

Product and Brand Portfolio

Table 6-6: Enel North America, Inc. Portfolio for Geothermal

Performance

Acquisitions and Divestitures

Innovation

Outlook

Personnel Changes

Florida Heat Pump

Corporate Background

Product and Brand Portfolio

Table 6-7: FHP’s Product and Brand Portfolio

Performance

Acquisitions and Divestitures

Innovation

Outlook

Personnel Changes

Fuji Electric Systems Company Limited

Corporate Background

Product and Brand Portfolio

Table 6-8: Fuji’s Product and Brand Portfolio

Performance

Table 6-9: Fuji’s Global Supply of Thermal and Geothermal Power Plants

Acquisitions and Divestitures

Innovation

Outlook

Personnel Changes

Geothermal Development Associates

Corporate Background

Product and Brand Portfolio

Table 6-10: Geothermal Development Associates Portfolio for Geothermal Consulting Services

Performance

Acquisitions and Divestitures

Innovation

Outlook

Personnel Changes

MidAmerican Energy Holdings

Corporate Background

Product and Brand Portfolio

Table 6-11: MidAmerican Portfolio for Energy and Subsidiaries

Performance

Acquisitions and Divestitures

Innovation

Outlook

Personnel Changes

Mitsubishi Heavy Industries Limited

Corporate Background

Product and Brand Portfolio

Table 6-12: Mitsubishi’s Geothermal Product and Brand Portfolio

Performance

Company News

Acquisitions and Divestitures

Innovation

Outlook

Personnel Changes

Nevada Geothermal Power Incorporated

Corporate Background

Product and Brand Portfolio

Table 6-13: Nevada Geothermal Power Inc.'s Portfolio for Geothermal Energy

Performance

Figure 6-1: Nevada Geothermal Power Inc. Project Locations

Acquisitions and Divestitures

Innovation

Outlook

Personnel Changes

Northern California Power Agency

Corporate Background

Product and Brand Portfolio

Table 6-14: Northern California Power Agency’s Energy Portfolio

Performance

Acquisitions and Divestitures

Innovation

Outlook

Personnel Changes

Nuovo Pignone

Corporate Background

Product and Brand Portfolio

Performance

Acquisitions and Divestitures

Innovation

Outlook

Personnel Changes

Ormat Technologies Incorporated

Corporate Background

Product and Brand Portfolio

Table 6-15: Ormat’s Product and Brand Portfolio

Performance

Acquisitions and Divestitures

Innovation

Outlook

Personnel Changes

Sierra Geothermal Power Corporation

Corporate Background

Product and Brand Portfolio

Table 6-16: Sierra Geothermal Power Corporation’s Energy Portfolio

Performance

Acquisitions and Divestitures

Innovation

Outlook

Personnel Changes

Terra-Gen Power

Corporate Background

Product and Brand Portfolio

Table 6-17: Terra-Gen Power’s Product and Brand Portfolio

Performance

Acquisitions and Divestitures

Innovation

Outlook

Personnel Changes

WaterFurnace International, Incorporated

Corporate Background

Product and Brand Portfolio

Table 6-18: WaterFurnace’s Product and Brand Portfolio

Performance

Acquisitions and Divestitures

Innovation

Outlook

Personnel Changes

Appendix: Glossary of Terminology