The European Geothermal Power Council has revealed the 2023 Geothermal Market Report highlighting sustained development of various geothermal markets in Europe.
The European Geothermal Power Council (EGEC) has revealed this yr’s version of the annual Geothermal Market Report, which offers an in-depth evaluation of the European geothermal trade’s standing and development in the course of the yr 2023.
The Key Findings of the 2023 Geothermal Market Report are publicly accessible, whereas the Full Market Report and Annexes can be found solely to EGEC members.
Geothermal energy
As of the top of 2023, there was over 3.5 GWe of geothermal electrical energy era capability in Europe distributed amongst 143 operational vegetation. These amenities collectively generate roughly 20 TWh/yr, with the EU particularly contributing about 7 TWh/ yr.
The event pipeline for geothermal energy stays very energetic with roughly 50 geothermal energy vegetation beneath varied phases of growth throughout Europe, with Germany and Turkey main the way in which. There are additionally vital numbers of deliberate geothermal energy tasks in Italy, France, and Croatia, whereas rising markets like Spain and Greece are anticipated to start to generate energy from geothermal within the close to future.
Regulatory uncertainties proceed to be a problem for geothermal builders within the EU. Whereas geothermal has been recognized by EU laws as eligible for public funding, the implementation of such measures have been delayed. That is significantly evident in areas akin to Turkey and Italy, the place reforms to the help scheme (FER 2) have slowed progress.
District heating and cooling
As of the top of 2023, there have been 401 geothermal district heating and cooling (DHC) methods in Europe and 298 in EU Member States. This corresponds to six GWth of whole put in geothermal heating and cooling capability throughout 29 nations. Eight new methods had been commissioned throughout this era within the EU, including 33.9 MWth of capability. New geothermal methods had been put in in Finland, Romania, Germany, the Netherlands, and Slovakia.
France stays the chief in geothermal district heating capability within the EU, second solely to Iceland in Europe.
There are 316 tasks beneath energetic investigation throughout Europe, which may add over 744 MWth to the present 5,608 MWth capability. Main nations like Germany, France, and the Netherlands proceed to discover for brand spanking new geothermal assets in greenfield areas. With the assistance of coverage and technological developments, creating decrease temperature geothermal methods in Europe for heating and cooling might be crucial in attaining the area’s formidable local weather targets.
Geothermal warmth pumps
Gross sales of geothermal warmth pumps (GHPs) reached over 154,300 items within the EU in 2023, a notable 11.7% improve from 2022. The full inventory of GHPs in Europe almost reached 2.32 million items by the top of 2023, pushed by considerations over vitality safety and affordability following Russia’s invasion of Ukraine.
Sweden led with 35,470 new installations, reflecting a 26% development. Germany noticed a slight decline with 30,700 items offered, a 1% lower, but stays the second-largest market within the EU. The Netherlands emerged because the third-largest market, with 22,220 items offered, experiencing an 11.1% improve. Finland demonstrated strong development with 11,772 items added, a 24% improve. These high markets accounted for 55% of whole gross sales.
The RePowerEU Plan, proposed by the European Fee in 2022, set a objective of doubling the present deployment fee of warmth pumps, with a goal of 10 million items by 2027 and 30 million by 2030. Contemplating present development charges, these objectives could also be difficult.
