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Renewable power generation is rapidly increasing due to the depletion and unfavorable environmental impact of fossil fuels. Geothermal energy is a form of renewable energy that can be effectively used for electric power generation. Besides, geothermal power provides considerable advantages compared to other renewable resources such as solar and wind power. Geothermal energy provides reliable, stable and efficient power compared to the lack of inertia, lack of efficiency and the intermittent nature of solar and wind resources. Moreover, geothermal power plants must be integrated with energy storage devices to improve the stability and flexibility of the power system. Gravity-fed energy storage and flywheel energy storage systems are two reliable technologies that can be integrated with geothermal power for improved stability and flexibility. Furthermore, the disadvantages of geothermal energy such as higher initial cost and geographic dependency can be compensated using recent research and developments in the geothermal technology.Therefore, geothermal energy has the potential to become a major power generating source in the future.