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

Author

Listed:
  • 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
    Energy Market Regulatory Authority, Ankara 06510, Türkiye)

  • Pinar Derin-Güre

    (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)

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.

Suggested Citation

  • Rauan Meirbekova & Dario Bonciani & Dagur Ingi Olafsson & Aysun Korucan & Pinar Derin-Güre & Virginie Harcouët-Menou & Wilfried Bero, 2024. "Opportunities and Challenges of Geothermal Energy: A Comparative Analysis of Three European Cases—Belgium, Iceland, and Italy," Energies, MDPI, vol. 17(16), pages 1-27, August.
    • Handle: RePEc:gam:jeners:v:17:y:2024:i:16:p:4134-:d:1459729
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    References listed on IDEAS

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    1. Alexey Mikhaylov, 2020. "Geothermal Energy Development in Iceland," International Journal of Energy Economics and Policy, Econjournals, vol. 10(4), pages 31-35.
    2. Ignacio J. Perez-Arriaga & Carlos Batlle, 2012. "Impacts of Intermittent Renewables on Electricity Generation System Operation," Economics of Energy & Environmental Policy, International Association for Energy Economics, vol. 0(Number 2).
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