SOURCE: SECFilings.com

SECFilings.com

August 17, 2016 08:44 ET

SECFilings.com: U.S. Geothermal (HTM) Tenfold Growth Plan on Track to Meet 2020 Goal

REDONDO BEACH, CA--(Marketwired - Aug 17, 2016) - SECFilings.com, a leading financial news and information portal offering free real time public company filing alerts, announces the release of an article detailing U.S. Geothermal's (NYSE MKT: HTM) ambitious plan, on track to this point, to reach 200 megawatts of clean, renewable energy production by the year 2020.

The global renewable energy market is expected to grow at a 10.3% compound annual growth rate to reach $777.6 billion by 2019, according to Research and Markets, with the geothermal segment growing at a 10% CAGR to nearly $20.8 billion.

Driving this high growth is the Renewable Portfolio Standards ("RPS") that mandates electrical power providers to produce an increasing portion of their energy from renewable sources like wind, solar, biomass, and geothermal. The increase in some states, such as California, requires meeting as much as 50% of energy requirements with renewable sources by 2030. In the United States, there are a growing number of state-level RPS programs that have taken the place of the federal-level Support Renewable Energy Act that died in the 111th Congress.

Geothermal power has 3,050 megawatts of installed capacity that represents approximately 0.12% of total electrical demand in the United States, making it the fifth largest source of renewable electricity after hydroelectricity, biomass, solar, and wind power. Interestingly, a geothermal assessment found that nine western states alone have the potential to provide over 20% of national electricity needs with a sustainable and low-impact source of consistent power. U.S. Geothermal Inc. is one of a handful of pure-play geothermal companies. The company has three active power plants, six under development, and nine in the exploration phase.

Please read the full article here on SECFilings.com: http://analysis.secfilings.com/articles/54-u-s-geothermal-tenfold-growth-plan-on-track-to-meet-2020-goal

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