altcom Limited is pleased to be a named supporter of a new report on ‘Deep Geothermal Energy: Economic Decarbonisation Opportunities for the United Kingdom’ released by Association for Renewable Energy and Clean Technology (REA) and ARUP.
‘Deep Geothermal Energy: Economic Decarbonisation Opportunities for the United Kingdom’ is a new report published by the Association for Renewable Energy and Clean Technology (REA) and ARUP. The report has the backing of over 30 businesses, academics, NGOs and industry experts and will be introduced in an upcoming webinar on May 19, 2021.
‘The report estimates that, should the Government establish a Geothermal Development Incentive, 12 deep geothermal projects could be operational by 2025, creating 1,300 jobs and generating more than GBP100 million (approx. USD 140 million) 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 GBP1.5 billion (approx. USD 2.1 billion) 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.’ Alexander Richter 14 May 2021
For more information on the report visit:
The webinar takes place on 19 May 2021, 10:00 – 11:30 and tickets are free.
To register follow the link below:
