News
Webinar: Empowering rural innovation by crowdfunding geothermal energy projects
The Icelandic Crowdthermal partners Eimur and GEORG are hosting a conference on the 14th of September in Húsavík, Iceland. The conference will be streamed and openly accessible to those who register.
CROWDTHERMAL launches Beta-version of its services empowering the European public to participate in the development of geothermal projects
Brussels I July 2022 I The Horizon 2020 funded CROWDTHERMAL project launches its set of core services for communities of citizens, geothermal project developers and local authorities with a view to facilitating the involvement of citizens in the development of geothermal energy projects.
Webinar: How to evaluate and take into account public perception in geothermal district heating and cooling projects
The EU-funded CROWDTHERMAL project and the COST Action CA18219 'Research network for including geothermal technologies into decarbonized heating and cooling grids –...
CROWDTHERMAL First International Conference: Introducing our services for community-funded geothermal projects
On 7 April 2022, the CROWDTHERMAL project organised its first international conference with a view to introducing its services for community-funded geothermal projects to the public.
CROWDTHERMAL issues recommendations
The CROWDTHERMAL project officially ended in December 2022 and the research team therefore summarised key recommendations in two factsheets addressing National authorities and the EU as well as Project developers and Local authorities.
Discover the CROWDTHERMAL services in our video!
CROWDTHERMAL developed a set of core services which intend to support project developers, local authorities and communities that are interested in developing geothermal projects using alternative finance methods.
Learn more about these services in our video!
#DYK? Geothermal is a great renewable energy source!
Our mission in CROWDTHERMAL is to empower society to get involved in the development of new geothermal projects all across Europe.
Webinar: CROWDTHERMAL services – An introduction for communities and local authorities
The EU-funded CRWODTHERMAL project invites communities and local authorities to an introductory webinar on its services.
First Geothermal District Heating and Cooling Day event: “Bringing Geothermal heating and cooling networks closer to the people”
The Geothermal District Heating and Cooling Day intends to connect science and society by presenting recent developments and prospects, supporting the interlinking of stakeholders across Europe and jointly addressing present challenges and barriers for the deployment of geothermal energy supported heating and cooling networks in Europe.
Webinar: CROWDTHERMAL services – An introduction for geothermal project developers
The EU-funded CRWODTHERMAL project invites geothermal project developers to an introductory webinar on its services.
SECURITY TOKEN OFFERING (STO)
[Sassy_Social_Share]"An STO, also known as a Security Token Offering, is a digital token supported by blockchain technology that represents...
DIGITAL TOKENS
[Sassy_Social_Share]"Also sometimes referred to as a crypto token, digital coin, or often simply, 'token' or 'coin.' A digital...
SMART ENERGY CONTRACTS
[Sassy_Social_Share]"Applying blockchain smart contracts to a transactive control system presents an opportunity to increase the scale and...
GUIDELINES FOR PUBLIC ENGAGEMENT: DECOMMISSIONING & POST-CLOSURE
[Sassy_Social_Share]There comes the time when the demolition of a geothermal system impends. The recommendation for this phase of decommissioning and post-closure is to concern...
GUIDELINES FOR PUBLIC ENGAGEMENT: OPERATION PHASE
[Sassy_Social_Share]After the construction phase has been completed, the commissioning of the system is on the agenda, the kick-off for energy production. For this phase there...
GUIDELINES FOR PUBLIC ENGAGEMENT: CONSTRUCTION PHASE
[Sassy_Social_Share]For the construction phase, the construction permits are the requirement to start into the phase. The same participation measures as for the drilling phase...
GUIDELINES FOR PUBLIC ENGAGEMENT: DRILLING PHASE
[Sassy_Social_Share]The basic requirement for this phase is to have the permit to drill. Here, just like in the phases before, it is important to inform existing stakeholders and...
GUIDELINES FOR PUBLIC ENGAGEMENT: EXPLORATION PHASE
[Sassy_Social_Share]Especially in the initial phases where a lot of planning and a lot of talking with different people is required to initiate the project, it is important to...
GUIDELINES FOR PUBLIC ENGAGEMENT: PROJECT DEFINITION PHASE
[Sassy_Social_Share]In the phase of the project definition, the aspects of chapter 3 (Context Analysis) in deliverable D1.4 play an important role, since the context analysis is...
RISKS vs. MITIGATION MEASURES: Leasing
[Sassy_Social_Share]Project Developers’ Perspective RISKS The Lessor may have conditions concerning turnover etc. making it impossible to get access to this form of financing....
RISKS vs. MITIGATION MEASURES: Direct lending
[Sassy_Social_Share]Project Developers’ Perspective RISKS A risk when using direct lending is that the result of the project (i.e. flow rate and temperature) may not be enough to...
RISKS vs. MITIGATION MEASURES: Crowdfunding (reward-based)
[Sassy_Social_Share]Project Developers’ Perspective RISKS Reward-based crowdfunding has not been applied in the geothermal industry yet. There is a risk that investors are not...
RISKS vs. MITIGATION MEASURES: Crowdfunding (shares/equity)
[Sassy_Social_Share]Project Developers’ Perspective RISKS Shares/equity require relinquishing a part of the ownership. The return is not limited to an interest rate, but grows...
RISKS vs. MITIGATION MEASURES: Crowdfunding (loan)
[Sassy_Social_Share]Project Developers’ Perspective RISKS Crowdfunding loans are less flexible than crowdfunding equity. Crowdfunding loans are challenging in the early project...
RISKS vs. MITIGATION MEASURES: Crowdfunding (general)
[Sassy_Social_Share]Project Developers’ Perspective RISKS Crowdfunding is relatively costly. As the resource-related risk of not finding a hot aquifer is high, the investors...
EXPLORATION RISK IN GEOTHERMAL PROJECTS
[Sassy_Social_Share]The exploration risk (also geological, resource or discovery risk) is the risk of not finding an economically viable amount of energy, defined by temperature...
How can I mitigate the risks?
Alternative finance risk mitigation tools in D3.3 Check technical mitigation measures in the GEORISK Risk Register (page 21) Geothermal risk guides and best practices. See also:-...
How can I evaluate the risk?
Try the GEORISK Risk Assessment Tool - it is especially useful to communicate with stakeholders. See also: - CROWDTHERMAL DELIVERABLE 3.2.: ALTERNATIVE FINANCE RISK INVENTORY -...
What are the challenges?
A financial engagement of the public must always be accompanied by appropriate risk management and risk mitigation strategies for project developers and community investors. This...
Is geothermal risky for the health of residents?
Studies on the health effects of the general population exposed to emissions from both natural geothermal events and plants using geothermal energy at domestic or commercial...
Is geothermal a reliable source of energy?
Yes. Geothermal energy generate constant baseload of electricity, regardless of the weather (sun, rain, wind, etc.). In addition, it is able to generate more energy over the same...
Does geothermal lead to noise , visual pollution and radioactivity risks?
Throughout the life of a geothermal energy system, noise is created during the plant operations. Visual disturbances caused by geothermal plants include deforestation, land...
Does geothermal lead to water pollution?
Pollution and consumption are issues with geothermal power plants which use considerable amounts of water throughout their lifetime depending on size, technology type, working...
Does geothermal lead to air pollution?
Emissions to the atmosphere from geothermal energy plants and direct use geothermal heat are much lower than conventional fossil fuel-based energy plants, but still need to be...
Does geothermal lead to more seismicity / earthquakes?
As geothermal operations are concentrated in seismic active zones, energy production by extraction or circulation of geofluids can lead to induced seismicity. Land subsidence can...
How much can I raise with public participation?
Many countries implement special regulations to foster debt and equity based finance to promote entrepreneurship. For example, Austria’s new legislation is considered to be at...
Am I allowed to raise money from the public?
Relevant European legislation is the MiFID II (Markets in Financial Instruments Directive). This MIFID II determines rules for investment firms and financial trading platforms,...
Why crowdfunding for geothermal?
Opportunities for citizens: support good cause, green energy, participate, financial opportunity / Opportunity for project developers: fundraising, sharing benefits with the...
What is crowdfunding?
Introduce the different forms of alternative finance with definitions used in the CROWDTHERMAL case study assessment protocol. We should give easy-to-understand descriptions for...
What are the main advantages of using community funding?
Outreach to a larger part of the communityMore transparency for the involved communityCustomer friendly process through use of digital modelsEasy maintenance of the community...
What is the focus of community funding?
Community funding in general is focused more on impact and social context than just on financial reward. This makes it a suitable form of (co)finance for geothermal projects...
What is community funding?
Community funding is the umbrella for alternative finance methods that are used to facilitate investment by the community directly into projects or companies. This means members...
For what can we use geothermal?
Geothermal can be used as an energy source, for heating and cooling of space and households. Where temperture is high enough it can also be used to produce electricity....
Does geothermal affect the climate?
Geothermal sources, especially where temperature is high enough for the production of electricity, often release some carbon dioxide. When estimating the GHG emissions from a...
Why should we develop geothermal?
Where available, geothermal energy is a perfect source of energy for heating and cooling of space and households. At sources where the temperature is high enough, the geothermal...
Why geothermal energy?
Selling points geothermal: clean, renewable, baseload, heating, cooling, electricity, etc.[Sassy_Social_Share]
What is the regulatory framework of geothermal energy?
The EU was given competences in energy policy by the Lisbon Treaty in 2009. The main objectives of EU energy policy are sustainability, affordability and security of supply. The...
Who is the owner of geothermal resources in the EU?
Geothermal resources (as part of “mineral resources”) belong to the State. The use of geothermal sources by natural persons or legal entities is made in accordance with the...
What is a geothermal heat pump?
A geothermal heat pump (GHP) or ground source heat pump (GSHP) is a central heating and/or cooling system that transfers heat to or from the ground. It uses the earth all the...
What are the direct uses of geothermal energy?
Direct use of the geothermal resource comprises pumping hot water from the geothermal resource to provide heat for buildings, industrial applications, greenhouses, crop drying,...
What are the different kinds of geothermal power plants?
– Direct dry steam– Flash-steam power plants– Binary cycle power plants See also: CROWDTHERMAL DELIVERABLE D1.2: SYNTHESIS OF ENVIRONMENTAL FACTORS (page...
What is Geothermal energy?
Geothermal energy is the energy available as heat emitted from within the earth’s crust, usually in the form of hot water or steam; excluding ambient heat captured by ground...
What are the phases of a geothermal project?
CROWDTHERMAL distinguishes 6 phases for geothermal projects: Project definition Exploration Drilling Construction Operation Decommissioning & post-closure See also:...
(SHALLOW GEOTHERMAL) ENVIRONMENTAL IMPACTS VS. MITIGATION MEASURES
[Sassy_Social_Share] Water:a) Grouting the Borehole Heat Exchangers (BHE) or sealing the annulusb) Legal constraints on the installation of geothermal systems (especially open...
(DEEP GEOTHERMAL) ENVIRONMENTAL IMPACTS VS. MITIGATION MEASURES
[Sassy_Social_Share] Atmosphere: Geothermal plant should be designed to avoid any steam releases to the atmosphere and NCGs should be treated at the cooling tower (Mannvit hf...
CROWDFUNDING
[Sassy_Social_Share]Crowdfunding is a form of funding where funds are raised directly from the community. The community invests into a project or company directly, often through...
SUITABLE FINANCE METHODS PER GEOTHERMAL PROJECT PHASE
[Sassy_Social_Share] Project Definition: Subsidies/grants/donations, crowdfunding (E/R*), direct lending combined with governmental guarantee, governmental lease. Exploration:...
DRILLING PHASE: RESOURCE DEVELOPMENT
[Sassy_Social_Share] Drilling and completion of the subsequent well(s): The following well(s) are targeting other identified high permeability zones in order to allow for a...
DRILLING PHASE: FIRST WELL
[Sassy_Social_Share] Drill pad construction: Before the drilling operations can start, the ground needs to be cleared and prepared. A concrete dill pad is constructed to...
Primera conferencia internacional: Presentamos nuestros servicios para proyectos geotérmicos con financiación-comunitaria
El 7 de abril de 2022, el proyecto CROWDTHERMAL organiza su primera conferencia internacional, en Madrid y online, con el objetivo de presentar al público sus servicios para proyectos geotérmicos financiados por la comunidad.
CASE STUDY ASSESSMENT PROTOCOL
[Sassy_Social_Share]CROWDTHERMAL has identified a number of conditions for the development of community-based financing geothermal projects, focusing on social aspects rather...
ENVIRONMENTAL FACTORS
[Sassy_Social_Share]There are several environmental factors related to geothermal energy projects that can potentially affect their public acceptance. For example: ATMOSPHERE...
SOCIAL LICENSE TO OPERATE
[Sassy_Social_Share]Social licence to operate (SLO) is a multiscale multilevel intangible agreement which represents implied consent from affected stakeholders towards projects...
WHAT IS PUBLIC ENGAGEMENT?
[Sassy_Social_Share]According to Rowe and Frewer (2005)[1] public participation is “the practice of involving members of the public in the agenda-setting, decision-making,...
COMMUNITY FUNDING
[Sassy_Social_Share]Community funding is the umbrella for alternative finance methods that are used to facilitate investment by the community directly into projects or companies....
ADDITIONAL FINANCIAL SUPPORT INSTRUMENTS
[Sassy_Social_Share]Additional financial support instruments can be combined with other finance schemes, to increase the success of the financing approach – and thus the...
PROVEN INNOVATIVE FINANCE SCHEMES
[Sassy_Social_Share]There are a number of non-traditional methods to raise capital for the development of a project, whose different mechanisms and approaches might make one (or...
NEW INNOVATIVE FINANCE SCHEMES
[Sassy_Social_Share]New and innovative finance models can be implemented in the development of geothermal projects. These alternative finance methods or solutions are offered by...
SHALLOW GEOTHERMAL SYSTEMS
[Sassy_Social_Share] Closed-loop heat exchangers can provide heating/cooling and/or hot water in buildings (residences, schools, offices, etc.) and other applications (such as...
GEOTHERMAL EXPLOITATION METHODS
[Sassy_Social_Share] Direct dry steam: The conversion plant of this technology is a steam turbine engine that directly uses steam extracted...
GEOTHERMAL ENERGY PRODUCTION
[Sassy_Social_Share]Thermo-electrical production from geothermal energy is based on the deployment of a conventional steam turbine and...
GEOTHERMAL PROJECT PHASES CLASSIFICATION
[Sassy_Social_Share] Project definition: Literature survey of existing data and information from previous studies and an analysis of the conditions generally considered...
#GeothermalTalks interview series with Geothermal District and Cooling Network and CROWDTHERMAL
This is an interview series, coorganised by Geothermal District Heating and Cooling Cost Action, and CROWDTHERMAL project. The speakers are discussing how to bring clean energy...
Experience geothermal up close thanks to CROWDTHERMAL
The mission of the EU funded CROWDTHERMAL project is to empower the European public to directly participate in the development of geothermal projects, with the help of alternative financing schemes and social engagement tools.
CROWDTHERMAL newsletter #2
The new edition of the CROWDTHERMAL newsletter is now online!
GEOENVI/CROWDTHERMAL webinar on public engagement – 16 March 2021
The GEOENVI and CROWDTHERMAL projects are co-organising a webinar entitled “Targeting acceptability and co-ownership for deep geothermal projects” on 16 March 2021, 10-12 am CET.
Collaboration with Geothermal-DHC
This autumn, we started to strengthen ties with the Cost Action Geothermal-DHC.
CROWDTHERMAL newsletter I
In the first edition of our newsletter you can read more about our research and outreach activities.
EU policy reforms will help to boost CROWDTHERMAL endeavours
Two recent EU policy reforms can help to boost CROWDTHERMAL endeavours.
AB Workshop follow-up meeting
On 28th September 2020, the CROWDTHERMAL Consortium held its second meeting of the year 2 of the project. The objective was to follow up on the Advisory Board Meeting held on the 16th September 2020.
CROWDTHERMAL Advisory Board provides feedback on preliminary project results
On 16 September 2020, the CROWDTHERMAL project held its first Advisory Board workshop in order to validate outcomes of the first project year. The Advisory Board gathers experts from the geothermal, financial and social side.
Summer activities in the district heating system of Szeged, the Hungarian case study
The main goal of CROWDTHERMAL is to empower European citizens to directly participate in the development of geothermal projects with the help of alternative financing schemes,...
Lessons learnt from renewable energy projects
Over the past few weeks, we have presented various examples from different renewable energy sectors where alternative financing models have been chosen. To sum up the campaign,...
Best practises for the use of alternative financing in the development of renewable energy projects
CROWDTHERMAL partner CrowdfundingHub has analysed 10 best practise cases for the use of alternative financing in the development of renewable energy projects. The focus in these...
The CROWDTHERMAL video: Empowering EU citizens to develop geothermal
The CROWDTHERMAL presentation video has been released in English and subtitled in Hungarian, Icelandic, and Spanish. Despite its huge potential and its important role in...
Cordis Results Pack on geothermal
Cordis Results Pack on geothermal: “A new and viable alternative energy source to help achieve Europe’s climate ambitions”
Two days Geothermal Brussels events
The Two days Geothermal Brussels events took place on the 4th and 5th of February with more than 60 participants from different European countries. The event was dedicated to the...
CROWDTHERMAL has been presented in Brussels and in Wuhan, China
CROWDTHERMAL project - empowering society to participate in the development of geothermal - has been presented twice last week. Firstly at the 4th Workshop of H2020 Geothermal...
CROWDTHERMAL Kick off Meeting, Brussels
The CROWDTHERMAL project has held its kick-off meeting in Brussels, on 23 and 24 September 2019. CROWDTHERMAL is funded under the European...
Preparing for the Kick off Meeting
CROWDTHERMAL partners are preparing for the Kick off Meeting, in Brussels on the 23rd and 24th of September. This meeting will gather all partners and will serve as the first...
CROWDTHERMAL project has just started!
The CROWDTHERMAL project aims to empower the European public to directly participate in the development of geothermal projects with the help of alternative financing...
