As Europe accelerates its transition away from fossil fuels and towards widespread electrification, a readily available and reliable source of clean energy remains largely ignored: geothermal energy.

Geothermal energy could provide the clean,local,and consistent power that Europe urgently needs. Though, it accounted for only 0.2% of the continent’s power generation in 2024. This needs to change to secure Europe’s energy future.

The recent power outage in Spain, caused by a failure in the high-voltage grid, serves as a warning. While solar and wind power are crucial for decarbonization,their variability necessitates stable,around-the-clock power sources to avoid swapping one form of energy insecurity for another.

The 2022 invasion of Ukraine by Russia served as an even greater wake-up call. European nations had become overly reliant on imported natural gas. The disruption of these supplies triggered an energy crisis, highlighting the vulnerabilities of Europe’s energy system.

The solution, in part, lies beneath our feet. The International Energy Agency (IEA) estimates that geothermal energy has the potential to power the planet 150 times over. Geothermal energy can also provide clean, reliable heat, which is notably valuable in Europe, where many homes rely on radiators and district heating systems, often powered by natural gas.

geothermal plants have a smaller physical footprint than solar farms or wind parks. The materials and infrastructure required, such as drilling rigs and turbines, can be sourced locally, unlike solar panels and batteries, which are primarily imported from China.

geothermal energy is a proven technology, not a theoretical concept. We have been drilling wells and extracting energy from the Earth for centuries. The knowledge and workforce already exist.

The oil and gas industry has cultivated a wealth of expertise in geology, drilling, reservoir engineering, and project management. Instead of allowing this expertise to diminish, it can be redirected to building geothermal plants. Existing infrastructure, such as drilling rigs, can be repurposed for this cleaner energy source. Geothermal energy could represent a “redemption arc” for the oil and gas sector.

While deep drilling can be expensive, a new generation of startups is changing the game. These companies are using innovative technologies, from plasma pulse drills to advanced radiators, to lower costs and make geothermal energy accessible in more locations.Similar to how SpaceX revolutionized the rocket industry with affordable launches, these startups are poised to succeed where the traditional geothermal industry has struggled.

The primary obstacle is a lack of investment. While significant funds are being directed towards high-risk technologies like fusion and nuclear fission reactors, geothermal energy receives comparatively little funding, especially in Europe. Yet, geothermal technology is available and ready for deployment now.

To achieve climate neutrality and energy independence, Europe must prioritize geothermal energy through bold investments, regulatory reforms, and a clear commitment to the industry. Geothermal energy should not become a forgotten renewable resource.

Europe faces the risks of grid failures, missed climate targets, and increased energy dependence. It is time to start drilling, before it is too late.