As nations implement policies to deliver on established commitments, the Paris Agreement on Climate Change continues to reinforce, more than ever, the need to scale up renewable energy worldwide. However, despite global efforts, there are still challenges that hinder investment and the transition to a low carbon future.
Geothermal energy is an underutilized resource with the potential to deliver renewable and reliable electricity, and heat for many low- and middle-income economies. From Africa’s Rift Valley to the Andes to the islands of Asia and the Pacific, domestic geothermal resources can meet a significant portion of national electricity demand for a wide range of countries. The benefits include increased energy security and access, more affordable power, and reduced greenhouse gas emissions.
The Geothermal Electricity Development Program builds on the lessons and experiences from ESMAP’s Global Geothermal Development Plan (GGDP) to scale up the generation of electricity from geothermal resources by addressing the main barrier to development: the cost and risk of exploration.