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Policy Department A: Economic and Scientific Policy ____________________________________________________________________________________________ From a global perspective the two leading countries for R&D in the geothermal are the US and Germany. France is the other Member State that provides quite a significant support but still fairly far away from the German level. Other Member States’ contributions are more marginal. Overall, the number of EU countries supporting R&D geothermal is very limited. Venture capital and corporate spending The development of a geothermal project is a long and capital-intensive process. As a result, they most often involve large energy companies as key partners. These companies are not characterized by a high R&D intensity. ENEL, worldwide leader in geothermal energy, has a capital intensity of just 0.1%. EDF, that is participant in the EGS project at Soultz-sous-Foret, has an R&D intensity of 0.6% and Vattenfall, that is operating a test facility in Germany, reaches 0.8%. Another key partner in geothermal projects is the developer of the turbines. Examples of these companies are Siemens and Alstom, with respective R&D intensities of 3.7% and 3.3%. Apart from these large companies, smaller and more specialized companies are involved, often performing the actual drilling and evaluation of the geothermal energy potential. Since these are smaller companies such as Daldrup&Söhne and GeoWatt, detailed information on R&D expenditure is not available for them. Nevertheless, taking into account that these companies are more at the forefront of technological innovation, they can be expected to invest relatively more in R&D, as shown by Turboden which reports to invest 8% of its revenue in R&D. Venture capital is only active on a very limited scale in geothermal energy and large deals on the European market are very uncommon. Main R&D investment needs The Research Agenda for Geothermal Energy published in January 2009 by the European Geothermal Energy Council [EGEC 2009] provides estimates of the needed R&D expenditure for the period 2008-2030. It amounts to an average of €31.5 million on a yearly basis broken down as follows: Table 17: Budget for each R&D segments for geothermal technologies R&D segments R&D budget Drilling technology 5 € million/year Exploration and identification of sites 4 € million/year In-situ measurement technologies 1 € million/year Monitoring of cracks 1 € million/year Demonstration project 15 € million/year Geothermal district heating 1.5 € million/year Shallow geothermal sector 2 € million/year Inter-seasonal energy management (energy storage) 1 € million/year New and evolving technologies 1 € million/year Source: [EGEC 2009] On top of that, EGEC puts forward a specific initiative for Enhanced Geothermal Systems (EGS) under the SET-Plan. IP/A/ITRE/ST/2009-11 & 12 62 PE 440.278PDF Image | Policy Department Renewable Technologies
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