|Title||Community-Based Development Schemes for Geothermal Energy|
|Link to project website||CROWDTHERMAL|
|Project duration||01/09/2019 – 31/12/2022|
|GeoZS role in the project||Linked third party connected to the Slovenian Geological Society|
CROWDTHERMAL aims to empower the European public to directly participate in the development of geothermal projects with the help of alternative financing schemes (crowdfunding) and social engagement tools. In order to reach this goal, the project will:
- understand the requirements for social licencing and develop a Social Licence to Operate (SLO) model for the different geothermal technologies and installations;
- review any successful case studies, as well as national/EU bottlenecks to alter-native financing of geothermal energy in all EU countries;
- formulate new financial models for crowdsourcing on a national and trans-na-tional basis, covering individual member-states and Europe as a whole;
- develop recommendations for a novel risk mitigation scheme that will be complementing the alternative financing solutions while also protecting private investors’ interest;
- validate findings with the help of three case studies in Iceland, Hungary and Spain;
- develop core services for social media based promotion and alternative financing of geothermal projects, working closely with existing structures & conventional players.
The project will be implemented by 10 partners from 7 countries, coordinated under the leadership of the European Federation of Geologists (EFG) which brings to the project also involvement of 17 Linked Third Parties. GeoZS sees its role as a connected party to the Slovenian Geological Society.
CROWDTHERMAL launches Beta-version of its services empowering the European public to participate in the development of geothermal projects
The Horizon 2020 funded CROWDTHERMAL project launches its set of core services for communities of citizens, geothermal project developers and local authorities with a view to facilitating the involvement of citizens in the development of geothermal energy projects.
The mission of the EU-funded CROWDTHERMAL project is to empower society to directly participate in the development of geothermal projects, with the help of alternative financing schemes and social engagement tools. The project team now launches the Beta-version of its set of services with regards to alternative financing, social engagement and risk mitigation for geothermal projects. These services encompass environmental studies, economic aspects, financial risk mitigation and social acceptance considerations.
The core services will assist the geothermal sector, contributing thus to an accelerated market development in Europe and supporting the European Union’s 2030 climate and energy targets as well as the new REpowerEU plan, which aims at a greater strategic independence of Europe’s energy supply. Geothermal energy is indeed readily available 24 hours per day as inexhaustible heat from within the Earth, that can be by various technologies.
The following services have been set up for communities of citizens, geothermal project developers and local authorities:
The Beta-versions of all core services are available publicly via the CROWDTHERMAL website.
The objective being to turn CROWDTHERMAL into a one-stop shop for enquiries about empowerment in geothermal projects through community funding, the project team is seeking feedback on its service proposition and welcomes constructive user opinions via a dedicated survey.
Project coordinator, European Federation of Geologists (EFG)
Communication manager, European Federation of Geologists (EFG)
Representative of Slovenian LTP
Recommendations to local authorities and project developers
Recommendations to national authorities and to the EU