(Bloomberg) -- Installing systems to warm up buildings and generate electricity using energy from beneath the earth’s surface is set to grow faster in Germany than other carbon-free energy sources, according to a Deutsche Bank report.
Germany has the potential to generate about a fifth of its heating requirements from tapping geothermal energy, Deutsche Bank analyst Josef Auer wrote in a report issued today. That may be worth 25 billion euros ($37 billion) through 2030 for the building industry, he said.
Geothermal energy can come from natural formations where molten rock, or magma, is closest to the earth’s surface. They exist in the western U.S., east Africa and southeast Asia, where fault lines produce active volcanoes. Unlike wind and solar, geothermal energy is available 24 hours a day, reducing the need to combine its distribution with a more reliable fuel for producing power, such as coal.
Read more: http://www.bloomberg.com/apps/news?pid=20601100&sid=a94NWuteSrM4
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