The UK Government has been urged to provide targeted support for the deep geothermal sector to aid the “green recovery” and help deliver a “world leading” industry.
The Association for Renewable Energy and Clean Technology (REA) and ARUP have published their Deep Geothermal Energy: Economic Decarbonisation Opportunities for the United Kingdom report which underlines the environmental and economic potential of deep geothermal.
It has the backing of over 30 businesses, academics, NGOs and industry experts.
The report estimates that, should the UK Government establish a Geothermal Development Incentive, 12 deep geothermal projects could be operational by 2025, creating 1,300 jobs and generating more than £100m of investment, predominately in towns and cities in the north of England, Midlands and South-West.
The scheme would provide a catalyst to the industry, with 360 sites being established by 2050.
This would provide an additional £1.5bn of investment, 10,000 direct jobs and 25,000 indirect jobs, and an annual carbon saving of 3 megatons.
Deep geothermal energy is a space efficient utility scale renewable heat resource that can be deployed in urban areas, specifically with the potential to heat thousands of large commercial and other properties for generations.
Heat accounts for around 40% of the UK’s energy consumption and nearly a third of UK greenhouse gas emissions.
It is estimated that there is currently enough deep geothermal heat energy to supply all of the UK’s needs for at least 100 years.
REA chief executive Dr Nina Skorupska said: “As this report demonstrates, deep geothermal must be central to the Government’s energy policy for the next 30 years, but with real and tangible benefits in the immediate future.
“Deep geothermal has the potential to become a world leading industry here in the UK, provide a stable transition away from oil and gas, and help meet the Government’s net zero ambitions by decarbonising heat on a mass scale.
“It would also create 1,000s of new jobs and generate tens of millions of pounds in new investment.”
REA believes that urgent work is required to aid the roll out of all heat technologies, however, with the right support from the Government, deep geothermal will play a major role in Britain’s heat generation for decades to come.”
There is a significant opportunity to create a world leading geothermal industry in the UK which could export internationally in terms of expertise, as with the North Sea.
Germany’s use of deep geothermal energy reduced the country’s emissions by more than 1.7 Mt CO2 equivalent in 2017.
In addition, there is the creation of skilled jobs, the industry is estimated to have created more than 22,000 jobs and added €13.3bn to the German economy since 2000.
The success of geothermal developments in countries such as Germany, France and the Netherlands is closely linked to their governments’ commitment to supporting this technology through policies, regulations, incentives and initiatives.
This success is specifically linked to the availability of a long-term, stable regulatory framework and the willingness of the state to share economic risks during the early stages of development.