Firms can bid for £1m in funding to explore possible sites
As of today, UK firms looking to generate energy from deep heat underground will be eligible to bid for £1m of funding to explore viable sites.
The Department of Energy and Climate Change (DECC) has launched the Deep Geothermal Energy Fund to help companies, including construction firms, to carry out work to find viable sites for the technology. Project bids, which must be received by 29 October, will be assessed and managed by a panel set up by the Department of Energy and Climate Change.
Deep geothermal energy uses the natural heat found deep underground to produce renewable, non-intermittent electricity and heat at the surface.
Chris Huhne, energy secretary, said: “Deep geothermal energy is a real hot prospect as we dig deeper for new technologies that cut carbon emissions and provide home-grown power.
“Geothermal power from the South-west alone could provide up to 2% of the UK’s electricity needs. Offering this funding will give UK-based innovators a chance to get their projects off the ground and into our energy mix.”