The Cons of Geothermal Power are winning over the Pros in the last few years due to a number of factors.The main reasons are the long gestation time in building the geothermal energy plants,small developers,financing and regulation problems.Despite geothermal having huge potential these drawbacks have resulted in only 10 GW of geothermal energy being installed worldwide despite almost 30 years of commercial development.Most of the geothermal companies which are small developers have been devastated by the above problems.Canadian companies which are the leaders in consolidating the fragmented industry like Ram Power and Magma Power are facing huge problems.While Ram Power saw its CEO go,Magma is now looking at other renewable energy opportunities.Magma Power has decided to merge with Plutonic Power which is a small hydro and wind company as geothermal energy looks more or less a dead end.

Geothermal Energy is the proverbial poor cousin to wind and solar energy.Only 10 GW of Geothermal Energy Capacity has been installed and the growth rate is a pathetic 3-4% compared to the over 50% CAGR seen for solar energy and around 30% for Wind Energy.Geothermal Energy produces electricity at a reasonable cost in mature locations and unlike Solar,Wind does not suffer from intermittency problems.However a number of problems dog geothermal energy development.Despite huge promise,Geothermal Energy faces a slow painful death and unless something dramatic happens will remain a niche renewable energy source.Canadian companies which are the leaders in consolidating the fragmented industry like Ram Power and Magma Power are facing huge problems.While Ram Power saw its CEO go,Magma is now looking at other renewable energy opportunities.