This analysis looks at the future demand of downhole pumps for geothermal power. The Global Geothermal Challenge is being created to design the next generation downhole geothermal pump. Through competition, pump companies, universities, and inventors will be given the opportunity to compete for a US$5 Million prize purse to be awarded in 2015. In conjunction with the prize will be an Advanced Market Commitment (AMC) for 100 pumps.
This US$ 75 Million purchase order will serve as the core incentive to innovators. The analysis shows that initial pump sales will be for hydrothermal applications, well before the EGS market develops commercially. It is estimated that if introduced in 2015 this new class of pump will approach sales of 482 units per year in 2020 or roughly $350 Million in annual sales. In the initial 10 to 15 year time horizon, over 95% of these pumps would be installed in hydrothermal applications which are in need of a robust downhole submersible pump. In tandem, at a small number of locations, these pumps will be installed in Enhanced Geothermal Systems (EGS) sites as it is commercialized.
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For questions on this study please contact Lawrence.Molloy @ geothermalinnovation . org
