Document summary
Only 11GW of geothermal capacity is currently installed, providing about 0.4% of global electricity production, compared to 220GW of wind capacity and 40GW of solar, although load factors differ. Geothermal needs to be cited in specific geological conditions, with the biggest opportunities apparently in Chile, Indonesia, Turkey, Kenya, Philippines and the US. BAML estimates that around 500MW of geothermal capacity will be added annually through 2015. Enhanced Geothermal Systems could widen the number of sites. The technology is 5-10 years from commercial rollout but there are now feed in tariffs around €200/MWh in Germany and France to facilitate pilot projects.