IEA Report Highlights Geothermal Energy Potential

The International Energy Agency (IEA) has released a report indicating that advancements in drilling technologies could unlock the global potential of geothermal energy, leading to an investment opportunity of $1 trillion by 2035 and $2.5 trillion by 2050. The report highlights that geothermal energy could contribute to 15% of global electricity demand growth by 2050, providing a stable power source suitable for data centers and potentially generating 800 gigawatts of capacity. Currently, geothermal energy meets less than 1% of global demand, but its expansion could rely on techniques borrowed from the oil and gas industry. Countries like China and India are poised to become leaders in the geothermal market as they seek alternatives to coal power. However, the sector still requires significant government support and investment to realize its full potential. IEA Executive Director Fatih Birol emphasizes that new technologies are crucial for the growth of geothermal energy, which presents a clean, reliable energy source that complements other renewables.