Glitnir Market Study on Geothermal in North America
In September of this year, Glitnir, one of Iceland’s largest investment houses, released the most extensive state-by-state market analysis of the geothermal potential in the United States. The chart from their analysis on Washington state is here. (Note: this data is a rehash of the Geopowering the West analysis here). Significant to this market analysis was their projections of an $11 Billion industry by 2025. Glitnir’s announcement is here.Glitnir announced a geothermal sector approach specific to the United States. From their announcement:
Glitnir projects an annual U.S. geothermal electricity market of $11 billion by 2025 from about $1.8 billion now, with geothermal potentially providing up to 20% of California’s electricity needs, 60% of Nevada’s and 30% of Hawaii’s. The industry is expected to draw about $40 billion in financing over the next 18 years.
Coverage of their September announcement is here, here and here.Glitnir’s openness towards this market is reflective of the Icelandic approach, as was evidenced by the President of Iceland’s testimony here (link to his exact part of senate testimony).
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