Geothermal energy is an inexpensive source of energy to produce electricity. True or false?

Geothermal energy is obtained from the steam generated when underground water passes over the deep hot regions in the earth called as hot spots. Since steam is already present in these regions, the major cost of steam production is reduced. Therefore geothermal energy is in general inexpensive and can be used for energy generation. However, there are only a few spots available all around the earth from where the energy can be exploited.