150 companies call on President Von Der Leyen to prepare a European strategy to unlock geothermal
150 companies called on Commission President von der Leyen to prepare a European strategy for geothermal energy.
With the right policies in place, geothermal could meet half of the EU’s
heating and cooling demand by 2030 as well as providing balancing services
for intermittent renewables and vast stores of lithium and other raw
materials needed to accelerate the energy transition and security of supply.
The geothermal value-chain is as diverse as the many services it provides.
Signatories to the letter range from utilities providing heating and
cooling services alongside power generation, multinational energy service
companies, the financial sector and project developers.
It also includes Geological Surveys, which are government departments
responsible for managing national subterranean resources and strong
coverage from CEE countries which can benefit the most by replacing
reliance on imported Russian gas by domestically sourced geothermal heating
Philippe Dumas, Secretary General of EGEC stated that *“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*”.
He added, *“The **climate and Russian gas dependency crises reinforce the
need to develop geothermal now,” and that “**The EU strategy for geothermal
will provide the necessary political focus to unlock regulatory barriers
and unleash this vital renewable energy resource*”.
*The letter is available here:*
- There is enough geothermal energy stored to meet today’s energy demand
over 100 million times.
- Geothermal energy provides renewable baseload heating, cooling and
power in Europe and globally.
- Geothermal heat pumps are the most cost-effective renewable heating
solution compared to gas and other renewable heating technologies according
to the International Energy Agency’s 2021 Renewables Report.
- *Geothermal heat pumps* are good for *property values:* In Sweden,
household retail agencies found houses with Geothermal Heat Pumps increased
property prices by about €10-12,000
- *Geothermal district heating* is the most cost-effective source for
large-scale decarbonisation. ADEME the French environment agency, found that the levelised cost of geothermal
district heating was €15 MWh compared to €51 MWh from fossil sources in
- It’s the *‘go to’ solution for urban and rural cities. *Cities all
over Europe are opting for large-scale geothermal district heating systems.
- *Grid balancing:* Geothermal electricity provides baseload electricity
solving *security of supply threats* and intermittency from by removing
dependence on the import of fossil fuels from third countries.
- *Available everywhere*. Heat reservoirs and basins have only been
mapped in some regions and in some countries. Over 25% of the EU’s
population can be supplied by geothermal district heating by using
resources mapped in 2013
Combined with geothermal heat pumps (GHPs), nearly half of the EU’s heat
demand can be met by 2030.
- *Sustainable lithium and other mineral extraction:* Geothermal
Note: Many areas yet to be mapped
operations in Germany, France, Italy and the UK have started to extract
lithium hydroxide and other related lithium chemicals from existing and new
geothermal capacity. This zero-emission extraction is the foundation of a
sustainable lithium-ion battery value chain in Europe.
Sanjeev Kumar // *Head of Policy *// [email protected] // +32 499 53973
*ABOUT EGEC – EUROPEAN GEOTHERMAL ENERGY COUNCIL*
The European Geothermal Energy Council (EGEC) is a not-for-profit
organisation promoting all aspects of the geothermal industry. It was
founded in 1998 to facilitate awareness and expansion of geothermal
applications in Europe and worldwide by shaping policy, improving
investment conditions and steering research.
Over 120 members from 28 countries, including developers, equipment
manufacturers, electricity providers, national associations, consultants,
research centres, geological surveys, and public authorities gives EGEC the
ability to represent the entire geothermal sector.
EGEC is listed in the European Transparency Register No. 11458103335-07
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