Hot Stuff: Geothermal Energy Could be Powering Europe
- 56 minutes ago
- 2 min read
Europe is sitting on a huge energy power source - yet it currently barely registers on the continent’s grid.
Geothermal energy - heat derived from within the Earth's crust - helps power Iceland thanks to the island's unique volcanic geology, but has long been considered too costly to be deployed elsewhere. But technological advances are now expanding where geothermal electricity can be produced across Europe, “opening up clean power resources that were long considered out of reach and too expensive”. So says a new report by the think-tank Ember. Its authors found that technological leaps and falling costs have brought many more sites into play for geothermal energy.
“Geothermal is now positioned to scale” states Ember's report, noting that around 43GW of geothermal capacity could be developed in the EU at costs comparable to coal and gas electricity projects. To put that into perspective, 1GW is enough to power roughly 900,000 homes. “Modern geothermal is pushing the energy transition to new depths, opening up clean power resources that were long considered out of reach and too expensive,” said Tatiana Mindekova, a policy adviser at Ember.
“Today, geothermal electricity can be cheaper than gas. It’s also cleaner and reduces Europe’s reliance on fossil imports. The challenge for Europe is no longer whether the resource exists, but whether technological progress is matched by policies that enable scale.”
The report notes that geothermal energy could replace 42 percent of Europe's fossil electricity, at prices comparable to coal and gas. Ember also says that "Europe shaped the early story of geothermal energy but its leadership is shifting as other regions turn those ideas into commercial success. Europe needs to match its technical expertise with the policy and investment momentum to lead the next phase of deployment."
In 2024, the International Energy Agency (IEA) said that geothermal energy could become the cheapest source of clean power on Earth. It looks like design and technological advances may prove them right.