The Industry
Global Geothermal Energy Industry
The global geothermal energy industry is steadily expanding as nations seek reliable, clean, and renewable baseload power. With a total installed capacity of approximately 16.9 gigawatts (GW) as of the end of 2024, geothermal energy contributes a modest yet crucial share of the world’s electricity generation. The United States, Indonesia, and the Philippines lead in global production, with emerging markets such as Turkey and Kenya also growing rapidly. Innovations like enhanced geothermal systems (EGS) and shale-style drilling techniques are opening new frontiers, potentially unlocking vast untapped resources even in non-volcanic regions. However, geothermal development remains capital-intensive and highly site-specific, requiring strong policy support, public-private collaboration, and community engagement to scale effectively.
Geothermal Industry in the Philippines
The Philippines ranks as the third-largest geothermal energy producer in the world, with an installed capacity of around 1,984 megawatts (MW), contributing over 17% of the country’s electricity mix. This makes geothermal the second-largest renewable energy source in the country after hydropower. Despite its established status, the Philippine geothermal sector faces challenges including high exploration costs, lengthy permitting processes, and environmental and social considerations. Nonetheless, with strong government support and a growing demand for clean, stable energy, the Philippines is well-positioned to further harness its geothermal potential and maintain its leadership in the global clean energy transition.
Geothermal Development in the Philippines
Geothermal development has plateaued since the 2000s
Source: Lifted from Alvarado et. al. (DOE) last PIGC 2024
