Friday, December 2, 2022
HomeRenewablesHungary bets on geothermal energy to ensure energy security
Powered by

Hungary bets on geothermal energy to ensure energy security

The Hungarian government decided to support the upscale of domestic geothermal energy, which can reduce the country’s energy dependence by replacing about 1-1.5 billion cubic metres (bcm) of natural gas per year.

A reliable and affordable energy supply is of fundamental importance for the quality of life of Hungarian families, said the Ministry of Technology and Industry of Hungary adding that clean energy sources could provide viable solutions for the prolonged energy crisis.

The announcement highlights that Hungary has better geothermal properties than the European average, however, the potential of geothermal energy is not self-evident and all actors must do their best to leverage this potential. “We need a paradigm shift by creating a supportive regulatory and attractive investment environment and providing forward-looking research to contribute to the energy independence of the country,” said the announcement.

“The government put forward a program that concerns all energy sectors with a total investment of 16 billion euros by the end of this decade to support the energy transition and ensure the security of supply and affordability,” informed László Palkovics, Minister of Technology and Industry of Hungary.

“This program also includes geothermal energy as an alternative to burning traditional fuels, which, in contrast to other renewable energy sources, can generate energy throughout the year, day and night,” added the Minister.

The ministry pointed out that in order to capitalise on thermal water capacities as widely as possible, it is necessary to simplify and standardise the procedure for geothermal energy utilisation, both in terms of research, permitting procedures and official supervision.

As a next step, Hungarian authorities will prepare a proposal on the amendment of the legislative environment, as well as on the possibilities of encouraging developments and investments. A complex research program is also planned to reduce the traditionally high investment costs and significant geological risk, informed the Ministry.

Sign up to our biweekly newsletter

    Most Popular