Latest news with #GeothermalDays
Yahoo
29-07-2025
- Business
- Yahoo
Government official calls on banks to push homeowners towards new heating systems: 'The key factor is purely financial'
French Prime Minister François Bayrou recently advocated for banks to offer more financing opportunities for geothermal heat pump installations, according to Think GeoEnergy. Bayrou called the energy source a "gold mine" at the 2025 Geothermal Days conference. Besides their ability to displace polluting sources like gas, heat pumps are indeed an economic opportunity as well. Heat pumps operate much more efficiently than other climate control methods, making them money-saving mechanisms in the long run. Most heat pumps capture heat or dump it into the open air outside of a home. It's possible for them to transfer heat more efficiently when their loop runs underground since soil maintains a more stable temperature than air. These geothermal systems require digging and drilling, however, which leads to higher costs. In France, installation can cost 20,000 euros ($23,500), or twice the cost of a boiler. With additional financing support, Bayrou said he hopes that France could hit its stated goal of replacing half of residential gas boilers with heat pumps in the next 20 years. Which of these factors would most effectively motivate you to buy a heat pump? Lower energy bills Better temperature control Helping the planet I'd never buy a heat pump Click your choice to see results and speak your mind. Research shows that bans on new boilers could help the cause. French President Emmanuel Macron had previously outlined aims for the country to domestically manufacture 1 million heat pumps. "The key factor is purely financial," said Bayrou, translated from French, suggesting that the public Caisse des Dépôts or the Banque Publique d'Investissement could amortize installation costs while still keeping monthly costs competitive with boilers. "If a family is offered, for the same monthly payment but only spread out over a longer period, a heat pump rather than a gas boiler, I am sure that they will make this choice because they will save, in energy costs, the amount of this monthly payment," said Bayrou. Heat pumps are a smart home upgrade no matter where you live. In the U.S., some federal incentives are still available to help take the sting out of installation costs, but it's best to jump on them before they disappear. Which of these factors would most effectively motivate you to buy a heat pump? Lower energy bills Better temperature control Helping the planet I'd never buy a heat pump Click your choice to see results and speak your mind. Industry members were happy to hear Bayrou's support for geothermal heat pumps. "These announcements represent a decisive step. This strong signal from public authorities reinforces Arverne Group's efforts to make geothermal energy a key driver of our energy sovereignty," said CEO of Arverne Group Pierre Brossollet. "The challenge now lies in swiftly turning these intentions into action to scale up geothermal solutions across France." Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
Business Wire
19-06-2025
- Business
- Business Wire
Geothermal Energy: a Strong Signal From the Government Welcomed by Arverne Group
PAU, France--(BUSINESS WIRE)--Regulatory News: Arverne Group (ISIN code : FR001400JWR8, mnemonic code ARVEN), welcomes the announcements made today in Biarritz by the Prime Minister in favor of geothermal energy, during the 2025 Geothermal Days. These long-awaited commitments by stakeholders in the sector underscore the Government's determination to remove barriers to the deployment of this renewable, local, decarbonized, and continuously available energy source. Arverne Group particularly welcomes: The increase of the regulatory threshold for surface geothermal projects from 0.5 MW to 2 MW, in order to free up and accelerate projects. The attention given to drilling jobs through the implementation of new training programs, as well as the relaxation of working time regulations on deep geothermal drilling sites. The ongoing collaboration with banks to help individuals spread out the investment cost of a geothermal installation, as a replacement for gas boilers. The strengthening of the network of geothermal facilitators in local territories, essential to raising awareness about the benefits of this still underused energy source. 'These announcements represent a decisive step. This strong signal from public authorities reinforces Arverne Group's efforts to make geothermal energy a key driver of our energy sovereignty. The challenge now lies in swiftly turning these intentions into action to scale up geothermal solutions across France.' said Pierre Brossollet, founder and Chairman & CEO of Arverne Group. Momentum to Be Amplified to Ensure a Scale Shift While this step marks a turning point, it must be part of a broader trajectory. A second set of announcements is expected in September, particularly regarding financial support. Arverne Group hopes for: The strengthening of the Heat Fund and the need to secure it over multiple years to provide operators with long-term visibility. The implementation of new support mechanisms such as 'Certificats d'Economie d'Energie' (Energy Savings Certificates). The alignment of energy taxation with decarbonization goals, including rebalancing taxes between gas and electricity - an essential condition for the development of geothermal energy. Since its founding in 2018, Arverne Group has been committed to establishing an ambitious, structured, and sovereign French geothermal sector. Alongside the State, local authorities, and industry stakeholders, the Group will continue to fully play its role in the regions to contribute to the collective success of this energy transition. About Arverne Group Arverne Group specializes in harnessing underground resources to transform them into environmentally friendly, local and renewable energy, contributing to the prosperity of local communities. As an integrated industrial player, Arverne Group spans the entire underground value chain, from exploration to drilling and production to sales to end-users. Arverne Group aims to become the French leader in geothermal energy and its by-products, including low-carbon geothermal lithium. Founded in Pau in 2018, Arverne Group has structured its business activities around several subsidiaries, notably Lithium de France (geothermal heat and extraction and sale of geothermal lithium), 2gré (sale of geothermal heat), Arverne Drilling Services (drilling operations). A mission-driven company, Arverne Group is listed on Euronext Paris (ISIN FR001400JWR8, symbol ARVEN).
