Geothermal is our energy. It is a unique renewable energy source providing baseload electricity, heating, cooling, storage, as well as lithium and other mineral extraction. It rests reassuringly below our feet, homes, offices and factories everywhere. With the right political visibility and regulatory frameworks it will become the foundation of the cheap, local, inclusive and rapid energy transition.
Geothermal energy is Made in Europe'. It does not depend upon fuel supplies or technologies from other countries. It is available all year round and free from the constraints of the weather or the time of day. It provides stability and certainty in times of instability and uncertainty. It protects our prosperity.
Geothermal is the bridge between the fossil and renewable sectors. Competencies, technologies and skills overlap considerably. It is also the bedrock for energy system integration. Effective policy will accelerate this most vital of transitions.
By 2040, geothermal can deliver the following:
- 75% of the EU heating and cooling needs in residential, public, and commercial buildings.
- 65% of the agri-food sector's heating and cooling demand.
- 15% of electricity production combined with stability and flexibility services.
- 25% of low to medium industrial process heat at temperatures below 200 degrees (half of the EU's industrial processes emissions come from uses below 200 degrees).
- 10% of the EU's lithium and other raw material demands.
Regulators can remove the bottlenecks preventing us from achieving these outcomes with 9 simple actions:
