Hungary lies on hidden treasure, yet this huge energy source remains largely untapped
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Hungary holds an outstanding position within Europe regarding energy sources: the Carpathian Basin is rich in geothermal heat, providing the country with an invaluable asset. Although Hungary utilises a significant portion of its geothermal reserves, experts suggest that the state could play a much more active role in exploiting the untapped potential beneath our feet.
Energy lawyer Máté Tóth spoke to Economx about the unearthed treasure beneath Hungary, pointing out that although the country is at the forefront of geothermal energy use in the region – geothermal heat production has quadrupled since 2010, placing Hungary among the top five European countries in terms of geothermal energy use – there is still ample room for improvement in overall thermal energy production.
The country is in a favourable position, the expert said, because the ground temperature rises quickly, the heat flow is strong, and the thickness of the earth’s crust is about half the continental average, making geothermal energy relatively easy to extract.
The energy source is there, now it needs to be used properly
Energy expert Gábor Simon echoed similar views, noting that greater use of geothermal energy could be an important element in diversifying Hungary’s energy profile. However, Simon added that uncertainties around changes in legislation and regulations make it difficult to launch new projects.
Moreover, other constraints limit investment in the sector. Technological, economic, sustainability and social issues remain unresolved when it comes to the geothermal energy sources beneath the country. Thus, in addition to clarifying the legal framework, innovation and R&D are two other key areas that need to be stimulated for effective exploitation.
However, this requires state intervention. As Máté Tóth put it, “Greater public involvement is the key to the recovery of the geothermal industry, as the market alone cannot manage such risks and costs at the scale and pace required.”
It’s untapped because the “green” lobby and globalist-socialist cabal have paid off the Eurotrash bureaucrats to ram solar and wind down our throats, despite their being worse for the environment than even fossil fuels.