Global Geothermal Power and Heat Pump Market Offering a Promising Growth Rate of 14% by 2015

DALLAS, January 12, 2011 - The global geothermal energy market including power generation and direct
use in terms of installed capacity is expected to grow from 61,200 MW in 2010
to 120,300 MW in 2015 at an estimated CAGR of 14% for the same period. Europe
leads the geothermal market with a share of 37% followed by Americas and Asia
with 32% and 27% share respectively for geothermal energy supply.

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The global geothermal electricity market is expected to grow from
installed capacity of 10,500 MW in 2009 to 19,200 MW in 2015, at an estimated
CAGR of 12.4% and the global geothermal direct use installed capacity is
expected to grow from 50,500 MW in 2010 to 101,100 MW in 2015 at an estimated
CAGR of 14.9% for the same period.

The global cumulative installations of geothermal heat pumps are expected
to grow from 2.94 million in 2010 to 5.66 million in 2015 at an estimated
CAGR of 14% for the same period. The major countries using geothermal heat
pumps are Germany, Netherlands, Norway, Sweden, and U.S. The major portion
.i.e. around 67% of geothermal energy available for direct use is utilized by
geothermal heat pumps for space/district heating requirements.

Due to the natural occurrence of geothermal resources having source
temperature above 90oC due to geological activities, the Americas region is
leading in geothermal power installed capacity globally with 43% share. It is
followed by Asia Pacific at 41%. Europe leads in geothermal direct use
installed capacity with a share of 42%. It is followed by the Americas with
30% share due to availability of resources having source temperature under
90oC.

The major countries involved in geothermal power generation are U.S.
followed by Philippines, and Indonesia, whereas in geothermal direct use,
U.S. is followed by China and Sweden in 2010.

The main driving factors in the geothermal market are
environment-friendliness and lower operating and maintenance cost when
compared to conventional fuels. The favorable policy and regulation framework
and recent investment activities by governments and venture capitalists are
boosting the development of the geothermal energy market. However, the growth
in the market is impacted by higher initial cost and limited geographical
availability of resources. All these reasons make Europe and Americas leading
regions in direct use and geothermal power generation respectively.

The major players in geothermal power industry are Enel (Italy), First
Gen (Philippines), Ormat Technologies (U.S.), Reykjavik Energy (Iceland), and
Magma Energy Corp. (Canada) and the major players in the geothermal heat pump
are Climate Master Inc. (U.S.), Waterfurnace International Inc. (U.S.),
Ochsner (Germany), and Florida Heat Pumps (U.S.).

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