IEA hosts leading public and private sector stakeholders to discuss future of geothermal energy

The International Energy Agency (IEA) gathered more than 100 experts from around the world at its headquarters in Paris today for a workshop focused on accelerating the adoption of geothermal energy.

Following opening remarks from IEA Executive Director Fatih Birol, leading stakeholders from government, industry and the financial sector shared their experiences and discussed the opportunities and main challenges they face in advancing geothermal technologies and boosting their uptake.

Geothermal is a promising and versatile renewable energy resource with vast untapped potential for electricity generation, heating and cooling, and energy storage. The geothermal industry is at a critical juncture, with new technologies and cost reductions enabling access to previously untapped resources, while innovative business models could pave the way for its increasing role in clean energy transitions.

During the workshop, participants discussed the status and prospects for both conventional and next-generation geothermal energy; the business case, financing schemes and socio-economic benefits for scaling up conventional and next-generation geothermal projects; and how the oil and gas sector’s capacities could be leveraged to support geothermal development.

The discussions will directly feed into the IEA’s upcoming report, The Future of Geothermal Energy, which aims to provide new analysis on the potential role of geothermal energy in transitions, as well as actionable recommendations for accelerating its adoption worldwide. The publication is planned for late November.