Sustainable Europe Investment Plan: what renewables need for a zero-carbon 2050

The Sustainable Europe Investment Plan represents the main investment pillar of the EU Green Deal. It will have to mobilise at least €1 trillion in sustainable investments over the next decade to achieve a climate-neutral economy by 2050. But to do so, as from 2020 only projects consistent with the 2050 targets should benefit.

What do renewables need?

When it comes to renewable energy industry (and geothermal in particular), the Sustainable Europe Investment Plan should focus on the following key areas:

• Promoting and investing in risk mitigation funds for geothermal energy;
• Launch a resource mapping campaign for deep geothermal;
• Deploy geothermal electricity projects for base load and flexible generation;
• Financing the deployment of geothermal district heating systems, and heat supply to industry and services;
• Providing access to the right support schemes and create the right business models for the installation of geothermal heat pumps;
• Supporting market uptake of proven innovative renewable energy technologies.

Read EGEC Geothermal position paper on the Sustainable Europe Investment Plan