The report, Deep Geothermal Energy: Economic Decarbonisation Opportunities for the United Kingdom, urges the government to provide targeted support for the deep geothermal sector as part of the ‘green recovery' to deliver a world-leading industry.
The report underlines the environmental and economic potential of deep geothermal project and calls for the establishing of a geothermal development incentive with 12 projects to be made operational by 2025, providing 1,300 jobs and generating more than £100 million of investment, predominately in towns and cities in the North of England, the Midlands and the South-West.
This would act as a springboard towards 360 sites being created by 2050, leading to £1.5 billion (US$2billion) in investment, 10,000 direct jobs, 25,000 indirect jobs and an annual carbon saving of three megatons.
TWI has been influential in a number of Horizon 2020-funded geothermal projects including Science 4 Clean Energy (grant agreement 764810), GeoSmart (grant agreement 818576), GeoDrill (grant agreement 815319), GeoPro (grant agreement 851816), GeoHex (grant agreement 851917) and GeoCoat (grant agreement 764086). These projects have been working to provide a series of different solutions for the geothermal industry, including coatings, improved drilling technologies and more.