Geothermal worth $62.8 billion by 2020

The New Zealand Government is investing $150,000 to stimulate demand for geothermal heat resources in the Bay of Plenty region.

Geothermal energy is a global industry estimated to be worth $62.8 billion by 2020. Kerching!!!!  I’d like a slice of that action… but wouldn’t we all.

Seems hard to believe that currently only 5 per cent of geothermal energy is being used in New Zealand. There is significant potential for greater use both across the Bay of Plenty and other regions in New Zealand.

The investment will be used for a Geothermal Business Development Lead to support work in stimulating demand for geothermal heat resources, including attracting investment from industry and promoting the value proposition and commercial opportunities.

 

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