Based on the National Geothermal Strategy, Hungary will double its domestic use of geothermal energy by 2030, the Ministry of Energy announced recently.

Klinghammer Noah Jeromos, renewable green energy investment expert, said: our opportunities are also excellent from the point of view of investments.

“In the Carpathian basin, the earth’s crust is thinner than the average of the European continent, which results in an intense ground heat flow. As a result, the subsurface temperature is higher in the area, and the rocks are able to store a significant amount of natural, subsurface water resources. As a result, Hungary has unparalleled capabilities for the sophisticated use of geothermal energy,” explained Klinghammer Noah Jeromos.

“The past decade has proven itself for investment funds. The return on state cooperation and the Government’s support will facilitate all of this,” explained the expert on renewable energy investments.

“In the recent period, the industry was boosted by a new, flexible licensing system – the creation of the Hungarian Geothermal Cluster – and the continuation of the national geothermal research program. For the winners of the tender announced as part of the Climate and Nature Protection Action Plan, HUF 4.8 billion will mitigate the financial risks of geothermal drilling. At the beginning of March, a HUF 5.3 billion call was opened, funded by the resources of the Swiss Fund, to support, among other things, the modernization of existing thermal wells or the conversion of state-owned hydrocarbon wells into thermal wells,” added Klinghammer.

According to the announcement of the Ministry of Energy, the basic goal of the National Geothermal Strategy is to reduce the domestic energy consumption of 6.4 petajoules by a fifth (to 8 PJ) by 2026, and to double the base value (to 12-13 PJ) by the beginning of the next decade. grow. During the time frame of the strategy, the share of geothermal energy in the total heat production may increase from 6.5 percent to 25-30 percent. The new uses can replace 1-1.2 billion cubic meters of natural gas by 2035, significantly reducing import exposure.