EGEC Geothermal welcomes the launch of the Just Transition Mechanism. It is the glue that binds social and political acceptability for delivering a successful European Green Deal. The mechanism provides financial assistance and technical capacity building to aid regions, communities and workers to fit into a zero-carbon EU. To do so, it must prioritise geothermal and other renewable heating solutions as heat constitutes more than half of all the energy consumed in the EU. The new generation of geothermal electricity will also help decarbonise the power sector.
EGEC Geothermal Policy Officer Reghina Dimitrisina underlined that “heat and electricity decarbonisation are joined at the hip. A zero-carbon Europe cannot be delivered without rapid investment in geothermal and other renewable heat solutions”.
Much of the heating demand in Central and Eastern European countries is met by fossil fuels, that are also used to produce electricity. Dimitrisina added that ”the electricity-centred EU policy debate has failed these countries because it has misunderstood this situation. The Just Transition Mechanism is how we shift the conversation from fossil fuels to geothermal and other renewable energy sources.”
The Just Transition Mechanism must be focused on financial schemes and instruments that enable the market uptake of renewable energy technologies, such as geothermal. De-risking schemes have proven crucial to this end.
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