Community-based development schemes for geothermal energy

CROWDTHERMAL project aims to empower the European public to directly participate in the development of geothermal projects with the help of alternative financing schemes (crowdfunding) and social engagement tools. Read more about the concept here.

  • Introduction

    CROWDTHERMAL is an EU Horizon 2020 funded project, developing alternative funding schemes for geothermal energy.

  • Fact sheet

    Start date: 1 September 2019. End date: 31 August 2022.
    Funding: € 2 305 801,25, EU Horizon 2020 programme.
    Funding scheme: H2020 Building a low-carbon, climate resilient future, Coordination and support action.

  • Objectives

    1. Understand the requirements for social licencing and develop a Social Licence to Operate (SLO) model for the different geothermal technologies and installations,
    2. Review any successful case studies, as well as national/EU bottlenecks to alternative financing of geothermal energy in all EU countries,
    3. Formulate new financial models for crowdsourcing on a national and trans-national basis, covering individual member-states and Europe as a whole;
    4. Develop recommendations for a novel risk mitigation scheme that will be complementing the alternative financing solutions while also protecting private investors’ interest;
    5. Validate findings with the help of three case studies in Iceland, Hungary and Spain;
    6. Develop core services for social-media based promotion and alternative financing of geothermal projects, working closely with existing structures & conventional players.