2nd Annual Geopower Europe again a resounding success
Europe's geopower industry confirmed today that it will become a viable source of cheap baseload energy in the 2030 energy mix supplying at least 20% of future demand. New EGS systems have a significant role to play and require the visionary support of the Governments and the European Commission.
More than 200 company representatives from 20 countries attended the Geopower Europe 2010 Conference today in Paris.
As one of the sources with very high potential and zero emissions, geothermal energy nevertheless received poor attention in the National Renewable Energy Action Plans of the EU-27 Member States, and in the two last EC Communications on ‘Energy Strategy 2020’ and ‘Energy infrastructure priorities’.
During this EGEC conference, a main finding was that geothermal energy can and will be a major contributor to a 2050 energy scenario with the less costly energy mix.
“Things must change if Europe is to reach its energy decarbonization objective, and that will not be possible without a substantial contribution from geothermal energy”, said Dr Burkhard SANNER, President of EGEC.
“Providing a renewable base load, geothermal energy does not have external costs such as storage, grid infrastructure or waste management. Conventional geothermal power is already a most competitive energy source, but only possible in certain regions. EGS, a breakthrough technology successfully demonstrated, will allow a geothermal development anywhere in Europe. EGS (short for “Enhanced Geothermal Systems”) will become competitive within a few more years.”
“Geothermal will be a key player in an optimal energy mix”, added Sanner.
The Geothermal sector calls on national governments and European Institutions to:
Invest in R&D to deploy EGS and bring down the cost of EGS plants.
Adopt a Feed-in-Tariff suitable for EGS development
Create an European Risk Insurance Scheme; to mitigate the geological risk.
The geothermal industry is sure to provide a large contribution to our future renewable energy mix and to ensure reaching the urgently needed CO2 emission reduction.
Geothermal energy has the resources to supply at least 20% of the European Global Energy consumption in 2050.
A Special thanks to Geopower Europe Sponsors were Halliburton, Ormat, Clean Energy Cryostar, Turboden, Tuev Sued, Fugro, US Geothermal, NTNU, Clean Power Capital and Toronto Stock Exchange/ TSX Venture Exchange.
Geopower Europe will be held in Milan in December 2011
European Geothermal Energy Council
Renewable Energy House
63-67 Rue d'Arlon
B - 1040 Brussels
Tel: +322 400 10 24
Fax: + 322 400 10 39
website: www.egec.org Skype Name: europeangeothermalenergycouncil
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