KAPSARC – Geothermal Energy: A Rising Powerhouse? A Global Technical Review, Oct 2024

The October 2024 KAPSARC report examines geothermal energy as an emerging force in global renewable energy. This technical review highlights geothermal energy’s vast potential due to the Earth's internal heat reserves, which vastly exceed traditional fossil fuels. Despite its low greenhouse gas emissions and high reliability, the geothermal sector contributes less than 0.5% to global energy due to high upfront costs, slow revenue realization, and technical barriers. The report also discusses advancements needed to scale geothermal applications globally and explores strategic recommendations for Saudi Arabia, where geothermal energy could enhance energy security and support climate goals.