Opportunities and Challenges of Geothermal Energy: A Comparative Analysis of Three European Cases—Belgium, Iceland, and Italy

Rauan Meirbekova (), Dario Bonciani, Dagur Ingi Olafsson, Aysun Korucan, Pınar Derin-Gure, Virginie Harcouët-Menou and Wilfried Bero
Additional contact information
Rauan Meirbekova: ICETEC, Árleynir 2-8, 112 Reykjavík, Iceland
Dario Bonciani: Consorzio per lo Sviluppo delle Aree Geotermiche (COSVIG), Via G. Carducci 6, 56044 Larderello, PI, Italy
Dagur Ingi Olafsson: ICETEC, Árleynir 2-8, 112 Reykjavík, Iceland
Aysun Korucan: Department of Economics, Middle East Technical University, Inonu Bulvari, Ankara 06800, Türkiye
Virginie Harcouët-Menou: Flemish Institute for Technological Research (VITO), Boeretang 200, 2400 Mol, Belgium
Wilfried Bero: Flemish Institute for Technological Research (VITO), Boeretang 200, 2400 Mol, Belgium

Energies, 2024, vol. 17, issue 16, 1-27

Abstract: Geothermal energy is a unique energy source in the energy policy mix that would help the clean energy transition and energy independence, supporting the energy needs in heating and electricity. Although there have been studies on the opportunities and challenges of renewable energy, this paper is the first paper that concentrates on geothermal energy for three distinct countries, Italy, Belgium, and Iceland, for the first time. Using semi-structured interviews that will cover the stakeholders representing the quadruple helix (academia, citizens, policymakers, and industry), this paper aims to find the unique and common opportunities and barriers the geothermal sector has. Shared challenges include financial barriers, regulatory complexities, environmental issues, and the need for improvement in the social acceptability of geothermal energy. Despite these challenges, geothermal energy, a promising energy source for clean transition, could create opportunities like improved household welfare through combined uses in district heating and electricity and have the potential to generate employment opportunities.

Keywords: geothermal energy; semi-structured interviews; market development; geothermal policy; opportunities; barriers; energy flexibility (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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