A recent publication portrayed the apparent misallocation of funds that the geothermal energy sector in Italy receives. The announcement, called GreenReport, brought to light the lacking funding that the industry gets. According to the findings, the renewable energy sector got 103million euros in 2019. This figure amounts to 0.9% of the total funds set aside to build the industry.
The outcome is rather unfortunate, although it is a result of poor policymaking. The government, through the ministry of economic development, passed a decree that regulated finding to the renewable energy industry. However, during it’s making the energy sector missed including the geothermal industry in its allocation
However, energy output on Italy more than doubled with the Energy Services Manager realizing a figure of 14.8 billion. Out of this outcome, the country received 11.4 billion from renewable energy prospects, 1.3bilion from energy efficiency together with the value.
However, the renewable energy sector is still useful. This year the sector recorded savings close to 43million tons of CO2 into the atmosphere and saved the use of 111 million units of oil. Come 2019, 3/10 of Italy’s total power output came from renewable energy sources. The production saved a total of 10.7million tons equivalent oil output
The country’s total energy consumption came at 10.7 Mtoe in 2018. This estimated total amounts to 446,0000TJ of energy, a rather high capacity. Yet the value stands lower by 5% when compared to the previous year’s output. According to the production from RES, the output figures in 2019 are factored compared to the national figure recorded during the last year. All data are roughly estimated values concerning the previous years.
By focusing on electricity production, the estimated output from Italy’s capacity was at 115TWh more than the recorded figure in the previous year. Looking at the individual production levels, the headroom value id offset by an increased production experienced in the wind generation sectors that realized +2.5TWh more output and 1TWh extra from the solar industry. The hydroelectric industry experienced a drop in output by achieving -3TWh. Other sub-sectors such as bioenergy and geothermal sources maintained their output levels with the previous years
The extra 115 TWh is a result of the additional 11.4billion worth of incentives to the industry. Out of the total allocation, 5,052million was channeled to other renewable energy sources apart from photovoltaics. The figures are a testament to the importance of additional investment in energy output to realize higher output levels