A coalition of 150 companies has sent an open letter to European Commission President Ursula von der Leyen urging her to order the creation of a geothermal energy strategy for Europe.
Svartsengi Geothermal Power Plant in Iceland. Credit: Kirill Chernyshev / Shutterstock
Svartsengi Geothermal Power Plant in Iceland. Credit: Kirill Chernyshev / Shutterstock
According to the European Geothermal Energy Council (EGEC), with the right policies in place, geothermal could meet half of the EU’s heating and cooling demand by 2030.
As well as providing a balance for intermittent renewables, EGEC also said that geothermal can improve the stores of lithium and other raw materials needed to accelerate the energy transition and security of supply.
Read more: Geothermal could cover a quarter of Germany's energy needs
Lithium is a byproduct of geothermal energy production. Hot salty water - or geothermal brine - is pumped to the surface and converted to a gas that turns a turbine to generate electricity. In addition to electricity production, these geothermal brines can yield lithium, brought up in the brine from deep underground.
Signatories to the letter range from utility companies providing heating and cooling, energy firms, the financial sector and other project developers.
Other signatories include a number of Geological Surveys - government departments responsible for managing national subterranean resources.
EGEC has said that Central and Eastern European countries can benefit the most from a geothermal strategy by replacing reliance on Russian gas imports with domestically-sourced geothermal.
Read more: Denmark to host EU's largest geothermal heating plant in Aarhus
Philippe Dumas, Secretary-General of EGEC said: “Even half the attention given to hydrogen, wind and solar would allow the private sector to crowd-in investments in geothermal due to its long lifespans, low operational costs and immense energy supplies”.
“The climate and Russian gas dependency crises reinforce the need to develop geothermal now,” added Dumas. “The EU strategy for geothermal will provide the necessary political focus to unlock regulatory barriers and unleash this vital renewable energy resource.”
- Read the full open letter from EGEC to Commission President von der Leyen.
Back to Homepage
Back to Energy & Utilities