Comparative Analysis of Approaches to Geothermal Resource Risk Mitigation : A Global Survey
Based on the World Bank’s own extensive global experience and drawing upon international expertise from leading specialists and practitioners, this report presents a comparative assessment of various approaches that have been applied around the wor...
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| Format: | Working Paper |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2016
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| Online Access: | http://documents.worldbank.org/curated/en/2016/05/26350369/comparative-analysis-approaches-geothermal-resource-risk-mitigation-global-survey http://hdl.handle.net/10986/24277 |
| Summary: | Based on the World Bank’s own extensive
global experience and drawing upon international expertise
from leading specialists and practitioners, this report
presents a comparative assessment of various approaches that
have been applied around the world, with varying degrees of
success, to mitigate resource risks and catalyze investments
in developing the geothermal sector. It provides a framework
that can help decision makers identify suitable approaches
that are commensurate with development goals, funding
capacity, implementation capabilities, and other
circumstances specific to the context in a given country.
Geothermal presents an opportunity for many countries to
diversify their power generation mix in a sustainable way
since it is an environmentally friendly, clean energy source
that can reliably produce baseload power on a 24 by 7 basis.
Despite over 100 years of development and an estimated
global potential of 70 - 80 gigawatts (GW), only about 15
percent of the known geothermal reserves are presently
exploited and producing electricity. While there are many
reasons, in various countries, for the slow pace of
geothermal development, one widely recognized and unique
obstacle that is applicable worldwide is the high resource
risk during the early stages of the geothermal development
process. As a result, it is difficult to mobilize the
early-stage investments, especially through the private sector. |
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