Geothermal Power Market Expected To Witness A Sustainable Growth Till 2030
Geothermal Power Market Overview Geothermal Power Market size is projected to grow at a 5.26% CAGR between 2022 and 2030 and to reach USD 5.89 Billion valuation. A reliable and independent method of generating electricity, geothermal power harnesses the warm energy of the earth's magma. The steam generated by hot water located a mile or more underneath the earth's surface is used in geothermal power plants to turn turbines that ignite generators, which then generate electricity. There are now three different types of geothermal power plants in operation: dry steam, binary cycle, and flash steam. Governmental agencies are working to lessen the reliance on oil for domestic energy needs. In order to employ renewable energy sources like an alternative energy source, a number of actions are investigated and utilized. The Indonesian government created a National Energy Policy with rules for intensification, energy conservation, and diversification in order to...