On Monday, European Union (EU) approved plans promoting geothermal energy, marking a pivotal moment for geothermal energy in Europe, according to News powered by Cision in a posting dated Dec 19 and the European Geothermal Energy Council (EGEC) in an online press release dated Dec 16.
At the EU Energy Council meeting, the International Energy Agency (IEA) Executive Director Fatih Birol presented the IEA’s recent report on the future of geothermal energy which could account for 15% of total electricity generation by 2050, compared to 1% currently.
Using today’s well-established technologies, geothermal energy has the potential to supply 25% of the EU’s heating and cooling needs and 10% of its electricity production. Next-generation technologies could significantly increase these figures.
Additionally, the EU Energy Council calls for the EU Commission to establish a European Geothermal Alliance to unite stakeholders in advancing geothermal solutions across Europe.
The council calls on the EU Commission to draw up a European geothermal action plan with concrete measures to accelerate the deployment of geothermal energy.
The Council also urges member states to streamline the approval of the permit for faster processes, improve access to financing to address high upfront investment costs, and take measures to enhance workforce in the geothermal sector.
The resolution has highlighted the role of geothermal energy to ensure a smooth transition to a carbon-free Europe, strengthening Europe’s competitiveness, said Hungarian Minister for Energy Csaba Lantos.
