Geothermal energy and its key role for Europe – EGEC’s 7th Annual Geothermal Market Report
In its 7th Annual Geothermal Market report released today, the European Geothermal Energy Council (EGEC) highlights the steady growth of geothermal energy in Europe with 16 new plants having started operation in 2017, with a combined geothermal power generation capacity of 33 MW. A particular emphasis is put on the heating sector, where 9 plants started operation in 2017.
EGEC, the European Geothermal Energy Council, has published the seventh edition of its annual study evaluating the development of the geothermal sector in Europe. The EGEC Geothermal Market Report confirms the trend towards the steady growth observed in recent years, but also notes the need for greater recognition in order to enable the full deployment of geothermal energy in Europe.
Installed geothermal electricity capacity in Europe amounts to 2.8 GWe, producing over 15 TWh per year. In Europe there are 117 plants, 16 of which were inaugurated in 2017. The new additions are quite significant, with 330 MWe of new geothermal electricity capacity coming online, mainly in Turkey.
The use of geothermal for heating is also increasing, supported by the construction of new district heating networks and the retrofitting of old ones, thanks to local and national planning identifying geothermal heat as a cost-efficient solution to meet heating needs. In 2017, 9 new plants were inaugurated, adding over 75 MWth across France, the Netherlands and Italy. The number of new plants coming online each year is on an upward trend, with an average annual growth rate of 10% in recent years.
Looking at individual geothermal heating systems, the shallow geothermal market remains the largest segment of the sector in terms of number of installations, installed capacity and energy produced. Individual geothermal heating systems, or geothermal heat pumps, represent over 20 GWth of heating capacity in Europe, with nearly 2 million installed units.
“One challenge to the development of geothermal in Europe is the demonstration that the contribution of our sector to the energy mix, a decarbonised approach based on renewables, is now much greater and more than a niche market.”, said EGEC Secretary General Philippe Dumas. “Geothermal is being recognised as an important energy source to reach our objectives post-2020 in terms of renewable energy consumption, gains in energy efficiency and reduction of greenhouse gas emissions. Market actors will have now to embrace the new opportunities that are offered in order to see further geothermal market development in Europe.”
Since its first edition in December 2011, the EGEC Geothermal Market Report has come to be seen as the authoritative overview of the entire geothermal sector in Europe. The report includes details of all major projects in operation, under development, and under investigation, as well as an analysis of market development, the regulatory and public policy environment, financial tools and incentives, the market forecast, and key players. Every edition also offers an in-depth review of different geothermal technologies. The focus of this year’s edition is exploration equipment.
The Key Findings of the report are made publicly available, while the full report, complete with supporting data and tables, is only available to EGEC members. For more information, visit www.egec.org.
Source: release by email