Analysis: How Can Emerging Markets Capitalise on Geothermal Energy’s Potential?
While solar and wind are the dominant segments in the transition to renewables, a number of emerging markets are looking to geothermal sources as a way to meet future energy needs.
Geothermal energy – which is generated when pipes drilled into the earth’s surface supply steam to power electricity turbines – lags behind other forms of renewables in terms of installed capacity; however, it is an effective solution for many countries.
Geothermal on the rise in Kenya
One of the countries leveraging its significant geothermal potential is Kenya. Located on the Great Rift Valley – where tectonic plates meet and bring magma closer to the earth’s surface – Kenya derives almost half of its electricity from geothermal sources, according to Fitch Solutions, with its contribution set to expand to nearly three-fifths by 2030.
Photo courtesy of WikiImages.