Policy and business updates related to the European geothermal industry.
*EGEC Says European Commission Proposal for Climate and Energy Policy is Inadequate
*Germany: Cabinet will Consider Cutting Incentives to Solar and Wind Projects
*Iceland: Geothermal Cluster Group to Facilitate Energy Startup Funding Program
The European Commission’s proposal for climate and energy policy for 2030 is inadequate, the European Geothermal Energy Council (EGEC) noted on its Web site. “The Commission plans a binding target to reduce GHG emissions by 40% compared to 1990 levels, an EU wide target for renewable energy of only 27% (which would be non-binding for Member States), and has disregarded energy efficiency,” according to EGEC.
In Germany, new plans up for vote in April would cut incentives for solar and wind projects.
Meanwhile the Iceland Geothermal Cluster network announced it will facilitate an energy investment program called Startup Energy Reykjavik, along with Klak Innovit. In the program, business ideas related to the energy sector are chosen through an application process, with ideas vying for $40,000 USD in seed funding.