06 Jun '12, 8pm

MOU Signed with Iceland for Geothermal Advancement; Geo Could Meet 20% of UK Power Needs

MOU Signed with Iceland for Geothermal Advancement; Geo Could Meet 20% of UK Power Needs

This comes as a new report from the Renewable Energy Association (REA) says the UK could meet a fifth of its power needs with geothermal energy, according to the Guardian . Geothermal could supply 9.5 GW of electricity, about 20 percent of current demand. It could also supply 100 percent of the UK’s space heating needs with about 100 GW of heat. The study also found that the current subsidy system is insufficient, and that subsidizing the technology initially would help bring down costs rapidly. "We don't want to be left out of a global industry which is estimated to be worth £30bn by 2020,” Ryan Law, chair of the REA's deep geothermal group, was quoted.

Full article: http://www.renewableenergyworld.com/rea/news/article/2012...

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