Europe is looking for the billion euro mine j Spain could be her fault. The energy crisis and dependence on Russian gas are becoming a serious problem for the EU European Union in the energy field. However, beneath the Earth there is an energy that could put an end to that problem: geothermal energy. Geothermal energy is a source of heat and energy. The EU is already designing a plan to exploit it. Given the context, Germany is even aiming to create the first geothermal engine.
The International Energy Agency (IEA) will enable global investment in geothermal energy to reach $1 trillion by 2035. These investments would mark the start of initiatives for approximately 800 gigawatts (GW) of installed capacity. Likewise, this technology could produce 15% of the increase in global electricity demand expected between now and 2050.
Geothermal energy, where energy is obtained from the heat present in space Tierracurrently covers less than 1% of global energy demand, and its use is focused on a few countries where access is easy, such as Iceland, United States, Indonesia, Turkiye, Italy and Kenya.
However, the report on the future and possibilities of geothermal energy has been published by the AIE points out that, if technological improvements and expected cost savings materialize, investments in geothermal energy could reach up to $140 billion per year.
This is the European Union’s plan with geothermal energy: it affects Spain
During the meeting on December 16, the Member States of the European Union They asked the European Commission the use of geothermal energy with an action plan, pending approval. In addition, the 27 warned that geothermal energy can be applied in the field of air conditioning because it is an economical, safe energy source with a stable electricity supply.
Furthermore, it has the capacity to decarbonize buildings’ energy consumption and make industries more competitive and sustainable. For its part, the Advice has described a number of measures that Member States will have to take on their territory.
In turn, they will have to adjust their internal regulations to expedite permits for geothermal projects. Another initiative is the conversion of underground fossil fuel facilities, such as the project in which this is being developed USA. They also proposed professional retraining programs and prepared qualified employees.
In terms of financing, the Advice suggested that the countries of the UE They will facilitate access to financial resources and provide incentives to encourage companies with the start-up capital and risks associated with drilling and exploration. Two factors that hinder the proper development of this energy source.
Europe is desperate for the trillion-euro mine: it could be in Spain
Finally, the 27 proposed the formation of a European Geothermal Alliancewhich must be made by the Commission and will bring together policymakers, investors and industry. All this to optimize the optimal use of geothermal heat and prevent inconveniences.
The third vice president and minister of Spanish ecological transition, Sara Aagesenwhich highlighted the incredible potential that Spain has in geothermal energy, especially due to the existence of outermost regions and islands.
In addition, he mentioned the possibility of using geothermal energy to include renewable energies in the area and diversify production sources. Under these circumstances Spain will spend 100 million euros on ten deep geothermal projects, most of which are located in the region Canary Islands.
Europe look for the ultimate geothermal energy mine j Spain could have on its territory. A context that inevitably reminds us of the largest geothermal power plant in the world.