| Abstract |
The general perception of the Collective Geothermal Industry is different than that of the solar or wind industries. The Collective Geothermal industry is disjointed and siloed. Outside of each respective industry (power, direct-use, heat, and cooling), the energy or heat source itself is not as familiar or understood as the source of the energy of its clean-energy counterparts. This places geothermal at a disadvantage from the start when positioning itself for publicity, government funding, tax incentives or private investment. For years, the geothermal industry has been beating its proverbial chest, boasting about its baseload reliability, value, cost-effectiveness, zero-emissions, and small environmental footprint – with little progress. The siloed, preaching-to-the-choir mentality of the geothermal industry has done little to educate the renewable energy industry as a whole. Even though the geothermal power industry has experienced steady international growth, reaching a total installed power generation capacity of 14,900 MW (+/- 14.6 GW) at the end of July 2019 (ThinkGeoEnergy, 2019), it struggles to maintain consistent, global investment, and development of the untapped potential of geothermal energy. For example, in 2010, Icelandic bank Islandbanki stated the world only uses 5% of its potential geothermal power (Skjol.islandsbanki.is, 2019) At that time, there was 10,954 MW (10.9 GW) of installed geothermal capacity and estimates of 193,500 MW (193.5 GW) of untapped geothermal potential around the world. Fast forward to 2019, we have seen an increase of 33% in installed capacity (10.9 GW to 14.6 GW) or an average of 395 MW of new capacity online each year (2010 to 2019). However, 14.6 GW is only 7.5% of the 2010 estimated 193.5 GW of untapped geothermal potential. That is only 2.5% development towards the potential stated by the Islandbanki 2010 geothermal potential report. Compare this to the installed power generation capacity of 471 GW (Ec.europa.eu, 2019) of installed Solar PV (small and utility scale) and 542 GW of installed Wind (onshore and offshore) (PV Europe, 2018). The combined power generation capacity of Solar and Wind stands today at 1,013 GW worldwide, having increased 340% over the 2010-2019-time frame. How can we strengthen the geothermal industry and help it to grow at a similar speed? Forward looking companies like Ormat Technologies, Climeon, Seequent, and others have been paving an interesting way with a professional approach to branding and rigorous outreach strategies, pushing geothermal energy as a fundamental part of their business development efforts. Countries, such as Kenya and Turkey have been leading in development, with corresponding direct use efforts as well. Industry trade associations like the International Geothermal Association have recognized the value of branding and invested in their visual identity, and social presence. Similarly, media and news outlets, such as ThinkGeoEnergy.com have dedicated themselves to the promotion and dissemination of geothermal news worldwide. However, as a whole this is not enough. The Collective Geothermal thought leaders are not working together to educate and promote geothermal with a cohesive voice. Can we learn from the other renewables, such as Solar or Wind? This paper explores analytics and methodologies of the prominent solar and wind industries and makes observations of impactful strategies and initiatives to emulate for the Collective Geothermal industry. Ultimately, this paper will explore both macro and micro branding and business strategies that companies, associations, academic institutions and governments alike can adopt to change the perception (and increase reception) of geothermal, across its different forms of utilization. |