Scholz pushes expansion of geothermal energy in Germany

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🗞️ Driving the news: German Chancellor Olaf Scholz announced that Germany is looking to significantly expand its use of deep geothermal energy for heat generation by 2030, as part of the country's move to phase out fossil fuels in its heating system

🔭 The context: Germany has one of Europe's largest geothermal reserves, which have remained mostly untapped
• Surging energy prices last year have renewed interest in this renewable energy source, attracting attention from both municipal utilities and fossil fuel companies

⏭️ What's next: The goal is to increase geothermal energy contributions to the heating network by tenfold by 2030
• The number of geothermal power stations is also expected to increase from 42 to 54

💬 One quote: "Our goal is to tap as much geothermal energy as possible by 2030" (Olaf Scholz, German Chancellor)

📈 One stat:  According to a study by the Fraunhofer Institute last year, geothermal energy has the potential to meet over a quarter of Germany's annual heat demand, with a production potential of over 300 terawatt hours

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