Cameron promises to kick-start deep geothermal technology

David Cameron has highlighted the potential of deep geothermal technology and promised to provide “generous incentives” to kick-start the industry in Britain.

A recent report by the Geothermal Research Programme estimated that deep geothermal energy could generate almost 10% of the UK’s electricity needs.

David stressed that Britain was “well-placed” to harness deep geothermal technology, and outlined the key benefits of doing so:

• It could create new jobs in mining areas such as Cornwall, Yorkshire and the North East
• Our energy security would be increased
• Geothermal energy is virtually carbon-free

David said that, with a working geothermal plant already up and running in Germany, Britain “needs to play catch-up”.

And he promised to give the industry “the shot in the arm it needs to get going” by allowing small-scale deep geothermal energy projects to sell all the electricity they generate at a profitable price, and making larger projects eligible for Renewable Obligation Certificates to help them attract the investment they need.

You can find out more about deep geothermal energy in our presentation below.