Geothermal energy – the Earth’s internal heat – is clean, sustainable and available at any time. Despite the high cost of drilling and exploration, Europe's geothermal electricity capacity is increasing. There are currently 127 plants producing over 3,091 MWe per year and its use for district heating and heating and cooling of buildings is also on the rise. 

To promote further geothermal market development in Europe, the EU-funded CROWDTHERMAL project aims to empower the public to participate in the development of geothermal projects through social engagement tools and alternative financing schemes like crowdfunding. To do so, it will increase public awareness and the transparency of geothermal projects and technologies. The project will also create a social acceptance model to be used as a baseline for inspiring public support.

Increasing transparency of geothermal projects

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 first increase the transparency of geothermal projects and technologies by creating one to one links between geothermal actors and the public so that a Social Licence to Operate (SLO) could be obtained. 

This will be done by assessing the nature of public concerns for the different types of geothermal technologies, considering deep and shallow geothermal installations separately, as well as various hybrid and emerging technology solutions. CROWDTHERMAL will create a social acceptance model for geothermal energy that will be used as baseline in subsequent actions for inspiring public support for geothermal energy. 

Parallel and synergetic with this CROWDTHERMAL will work out details of alternative financing and risk mitigation options covering the different types of geothermal resources and various socio-geographical settings. The models will be developed and validated with the help of three Case Studies in Iceland, Hungary and Spain and with the help of a Trans-European survey conducted by EFG Third Parties. 

Based on these feedbacks, a developers’ toolbox will be created with the aim of promoting new geothermal projects in Europe supported by new forms of financing and investment risk mitigation schemes that will be designed to work hand in hand with current engineering and microeconomic best practices and conventional financial instruments.

Partners of the project

• FEDERATION EUROPEENNE DES GEOLOGUES
• BERUFSVERBAND DEUTSCHER GEOWISSENSCHAFTLER EV
• POLSKIE STOWARZYSZENIE WYCENY ZLOZ KOPALIN
• SLOVENSKO GEOLOSKO DRUSTVO
• ASOCIATIA NATIONALA A PROFESIONISTILOR DIN GEOLOGIE SI MINERIT
• SYLLOGOS ELLINON GEOLOGON
• UKRAINIAN ASSOCIATION OF GEOLOGISTS
• ASSOCIACAO PORTUGUESA DE GEOLOGOS
• EESTI GEOLOOGIA SELTS
• MADEN JEOLOGLARI DERNEGI
• CESKA ASOCIACE LOZISKOVYCH GEOLOGUOS
• ILUSTRE COLEGIO OFICIAL DE GEOLOGOS
• MAGYARHONI FOLDTANI TARSULAT
• BULGARSKO GEOLOGICHESKO DRUZHESTVO
• SRPSKO GEOLOSKO DRUSTVO
• CONSIGLIO NAZIONALE DELL'ORDINE DEI GEOLOGI
• HRVATSKO GEOLOSKO DRUSTVO
• BELGISCH-LUXEMBURGSE UNIE VAN GEOLOGEN
• IZES GGMBH
• UNIVERSITY OF GLASGOW
• GEOTHERMAL ENGINEERING GMBH
• LA PALMA RESEARCH CENTRE SL
• CROWDFUNDINGHUB BV
• SZEGEDI TAVFUTO KORLATOLT FELELOSSEGU TARSASAG
• GEOPLAT
• GEORG-RANNSOKNARKLASI I JARDHITA
• EIMUR

Start date: 1 September 2019 - End date: 31 December 2022

This project has received funding from the European Union’s Horizon 2020 research and innovation programme under grant agreement No. 857830.