Some European countries are strongly supporting renewables, and must balance the costs. Saudi Arabia allots US$109 billion toward its goal to produce 54 GW of renewable energy by 2032. The Cheshire East Council has approved a feasibility study for geothermal energy in Crewe.
Europe Faces Challenges in RE Growth
A Wall Street Journal article notes challenges that have arisen in some European countries who have taken strong pro-renewables actions: “The first challenge is cost. Germany has reportedly invested more than $250 billion in renewable energy deployment, and its households pay the highest power costs in Europe—except for the Danish. On average, Germans and Danes pay roughly 300% more for residential electricity than Americans do.” The article continues, “Another challenge of Europe’s growing dependence on renewable energy is far more serious: the potential loss of reliable electrical supply. It’s one thing to ask consumers to pay more for cleaner energy; it’s another to force them to endure blackouts.” The article offers a reminder for careful reform of policies, though notes situation is different than in the U.S. which has excess generating capacity. Wsj.com
Saudi Arabia: National Energy Plan Alloted $109B for Renewables
Saudi Arabia has revised its National Energy Plan, aiming to meet its energy demands using one-third portion or 54 GW of renewable energy by 2032. The world’s top oil exporter will allocate US$109 billion toward the goal. Geothermal energy is one of the renewable resources included as a target for development, falling under the 50-250 MW “Other” category. Developers will be invited to bid for power purchase contracts and the government’s Sustainable Energy Procurement Company (SEPC) will buy the electricity generated. Zeenews.india.com; Geo-energy.org
UK: Crewe Site Approved for Feasibility Study
The Cheshire East Council has approved a feasibility study for geothermal energy in Crewe. Prior studies have supported the Leighton West site as one of six in the UK that have potential for geothermal generation. Leader of Cheshire East Council, clr Michael Jones, told press they would be working closely keeping the public informed throughout the process. “Looking into the future, if the supplies are what we think they are, it has the potential to kick-start a whole new industry in Cheshire East, creating more jobs and wealth than we could imagine,” Jones said. “We as a Council are determined to tackle fuel poverty and this is a positive step in that direction.” Creweguardian.co.uk