Brussels, 13th December 2024 – The European Geothermal Energy Council (EGEC) welcomes the publication of the International Energy Agency’s (IEA) historic and ground-breaking report outlining geothermal’s role in improving energy security and economic resilience whilst addressing the climate crisis. Presented today by Dr Fatih Birol, IEA’s Executive Director stated: “Geothermal is a versatile (power and heat for homes and industry), clean and secured energy source. One of the most important features: it is around the clock”. This report highlights geothermal as unique and versatile renewable energy with vast potential for electricity generation, heating and cooling supply and allowing thermal storage, raw materials and mineral extraction, including lithium. It rests reassuringly below our feet, in homes, offices, and factories everywhere. With the right political visibility, improved financial and regulatory frameworks, it will become the foundation of the cheap, local, inclusive and rapid energy transition. “The IEA highlights the huge potential for geothermal. Now, it is the turn of the European Commission to make this a reality in Europe with its EU Geothermal strategy,” said Philippe Dumas, Secretary General of EGEC. “This historic moment marks the dawn of the geothermal age,” added Sanjeev Kumar, EGEC Head of Policy. With its unparalleled ability to provide reliable, low-carbon energy for electricity, heating, and cooling, geothermal energy holds immense promise for contributing to global decarbonization efforts and energy security. EGEC calls on policymakers, industry stakeholders, and financial institutions to act on the IEA’s recommendations and unlock the full potential of this versatile resource: “Move geothermal up the energy policy agenda by making geothermal energy more prominent in national energy planning”. The conclusion of the Report is that we need: immediate action on deploying geothermal everywhere. Download the Press Release. Read the full report.
