What should you know about geothermal energy?
Geothermal energy is the energy of the future. It is environmentally friendly, constantly available and does not get depleted. Hungary is rich in thermal water and geothermal energy can be suitable for the replacement of natural gas and the updating of the district heating systems of towns. Currently only about a dozen towns operate their district heating systems with geothermal energy domestically, thus in the remaining 208 towns the opportunity to use geothermal energy for district heating is yet to be exploited.
About geothermal energy in detail
Why invest in geothermal energy?
- Geothermal energy may constitute the next few years´ renewable energy investment´s basis. The Hungarian government also made a committment to it and set a target of reaching a 14.65 per cent renewable energy ratio by 2020.
- Hungary is a thermal water world power, hence it is one of the most promising countries in the exploitation of geothermal energy.
- The role of geothermal energy cannot be postponed during the modernization of domestic district heating systems. Currently only about a dozen towns operate their district heating systems with geothermal energy domestically, thus in the remaining 208 towns the opportunity to use geothermal energy for district heating is yet to be exploited. This has quite significant market potential.
- There is large interest worldwide both in the already widely used geothermal district heating systems and the geothermal power plant with an EGS system to be constructed.
- The hereby presented projects and investment opportunities pay off, which is ensured by the nearly 15 year experience of EU-FIRE in large scale developments.
- The projects are supported by the European Union and the Hungarian government. EU-FIRE is a reliable, Hungarian owned company, the operation of which was in line with energy market trends and state targets; renewable energy, energy independence and climate protection.
- Geothermal energy is a safe investment opportunity. Electricity can be imported but heat can only be produced domestically.
The advantages of geothermal energy
- Environmentally friendly – Less pollution, providing environmentally friendly, alternative energy instead of burning traditional fuels
- Reliable – Contrary to other renewable energy sources, such as wind and solar energy, geothermal energy can be utilized for energy production 24 hours a day year around
- Calculable – Similarly to other renewable energy sources, geothermal energy also provides reliable energy supply and at the same time reduces the demand for importing traditional fuels. Thereby, significant carbon dioxide reduction can be achieved by replacing fossilized energy sources
- Low Cost – It makes low energy fees possible since the operation costs of power plants based on geothermal energy are lower
- Economical – A smaller area of land is required for the construction of geothermal power plants
- Long-term – Geothermal energy is practicably undepletable