18 May 2022 – The European Commission’s REPowerEU plan outlined a series of proposals to move geothermal from niche to a mainstream solution to addressing the climate, energy transition and Ukraine crises.
The EU Solar Strategy called for a trebling of geothermal capacity by 2030 whilst the EU Save Communication and legislative proposals outlined essential improvements that create a market for geothermal heating, cooling, and power as well as streamlining the process for capacity to come online. Geothermal supply base load electricity to stabilise the grid, secure the supply, and green the power. Geothermal heating and cooling is key to decarbonise buildings and the industry.
The Communication also calls for 20 million geothermal and ambient heat pumps to be installed in the EU by 2026 and nearly 60 million units by 2030.
An additional €20 billion grant funding to Member States to deliver these investments is welcome. Some of this finance should be used for an EU financial de-risking scheme to accelerate investment in geothermal and other renewable heating solutions.
Phillipe Dumas, Secretary-General of the European Geothermal Energy Council said:
“Today geothermal finally achieved the recognition it has long merited. Now it is vital that permitting rules, an EU-wide financial risk mitigation framework and stronger rules to remove fossil heating are put into action.”
Sanjeev Kumar / Head of Policy / email@example.com
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 For more information visit www.egec.org
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