Europe risks missing the ‘geothermal revolution’ unless policymakers act to unlock its potential, according to an open letter sent to EU leaders by Future Cleantech Architects and a broad coalition of industry partners.
The group of over 40 businesses, investors, think tanks, and civil society organisations calls for concrete measures to scale geothermal energy for both electricity and heat.
The letter highlights geothermal’s potential to generate up to 301 TWh annually in the EU – equivalent to around 42% of its coal- and gas-fired generation – while pointing to a much larger potential estimated at nearly 40 TW, or roughly 35 times Europe’s current installed electricity capacity.
“With next-generation geothermal energy, Europe has abundant, clean, and firm energy at its feet,” said Dr. Marlène Siméon, Director of Policy at Future Cleantech Architects.
“By embracing this technology, it can strengthen energy security, towards reliable and dispatchable energy, better compete with Chinese and US geothermal projects, and reduce
dependence on oil and gas – the Achilles heel of the EU's energy system.”
Next-generation geothermal technologies enabled by deeper drilling could provide a domestic source of reliable, 24/7 clean energy across many EU member states, the group suggests.
These technologies allow access to heat resources several kilometres underground, significantly expanding geothermal’s potential beyond traditional volcanic regions.
The letter, addressed to European Commission (EC) President Ursula von der Leyen and key Commissioners, warns that the EC’s forthcoming Geothermal Action Plan, expected in May, risks underestimating geothermal’s strategic opportunity if it is treated primarily as part of heating and cooling policy rather than as a broader source of firm electricity, industrial heat, and critical raw materials such as lithium.
The letter is also signed by Cleantech for Europe and the European Geothermal Energy Council (EGEC), alongside dozens of cleantech firms, innovators and investors, NGOs, and research groups.
“The Geothermal Action Plan must outline effective measures to overcome investment barriers and rapidly deploy geothermal so that everyone benefits from cheap, stable and homegrown energy,” said Sanjeev Kumar, EGEC’s Policy Director.
Victor van Hoorn, Director, Cleantech for Europe, said Europe can ill afford another energy crisis like 2022, prompted by the war in Ukraine: “Scaling firm 24/7 domestic energy is now a competitiveness and security imperative. Geothermal, the heat below our feet, has the potential to play a system-level role – but only if we unlock investment and deployment at scale.”
While Europe has strong technological leadership in advanced geothermal systems, the coalition argues that insufficient political prioritisation has slowed deployment compared to other clean technologies as a result of key barriers limiting investment.
With global competition in next-gen geothermal technologies accelerating, the signatories state that the upcoming Geothermal Action Plan represents a ‘critical opportunity’ to position geothermal as a pillar of Europe’s clean industrial strategy.
"Europe has the technology and resources to unlock geothermal at scale, the missing piece is faster execution and targeted investment,”said Igor Kocis, Founder, GA Drilling, another signatory. "If we are serious about energy security and reducing dependency on imported fuels, we need to invest in stable, local baseload energy, and geothermal is the most effective solution to deliver that over time.”
Alexander Helling, CEO, Baseload Capital, added: “Europe must break free from its fossil fuel addiction, and the answer lies beneath our feet: by rapidly scaling geothermal energy, we can unlock clean, always-on power, heating, and cooling for a competitive, affordable and sustainable future.”