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IRENA reports 22% lower LCOE of geothermal power in 2022

ThinkGeoEnergy

Between 2021 and 2022, the global weighted average levelized cost of electricity (LCOE) of ten newly commissioned geothermal projects fell by 22% to USD 0.056 kWh. This statistic was reported by the International Renewable Energy Agency (IRENA) in their newly published document, “Renewable Power Generation Costs in 2022.”

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Interview – Singapore, Asia’s newest emerging geothermal market

ThinkGeoEnergy

History of geothermal exploration in Singapore (source: Alessandro Romagnoli) Subsequently, there was a six-year pause in the study before researchers at the National University of Singapore (NUS) expanded the groundwater concept in 2009-2012, simulating the first computer model for the Singapore geothermal reservoir (Oliver et al.