David Cameron has highlighted the potential of deep geothermal technology and promised to provide “generous incentives” to kick-start the industry in Britain.
A recent report by the Geothermal Research Programme estimated that deep geothermal energy could generate almost 10% of the UK’s electricity needs.
David stressed that Britain was “well-placed” to harness deep geothermal technology, and outlined the key benefits of doing so:
- It could create new jobs in mining areas such as Cornwall, Yorkshire and the North East
- Our energy security would be increased
- Geothermal energy is virtually carbon-free
David said that, with a working geothermal plant already up and running in Germany, Britain “needs to play catch-up”.
And he promised to give the industry “the shot in the arm it needs to get going” by allowing small-scale deep geothermal energy projects to sell all the electricity they generate at a profitable price, and making larger projects eligible for Renewable Obligation Certificates to help them attract the investment they need.
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