A Decision Support Tool for Social Engagement, Alternative Financing and Risk Mitigation of Geothermal Energy Projects

Abstract

This paper presents a decision support tool for promoters/investors of geothermal energy projects, based on a decision tree (DT) structure. The DT aims to assist stakeholders to select public engagement strategies, alternative financing solutions and risk mitigation measures (or options) for geothermal energy projects. Public engagement is necessary for the successful development and operation of geothermal projects. Available studies (including toolkits and protocols) commonly list a set of practices for social engagement without providing information on the factors which render certain options more suitable than others. The presented tool offers a transparent framework to how relevant decisions could be managed by providing a sequence of questions that focus on social, environmental, resource risk, and financial influencing factors and to realise community engagement into geothermal projects. This work is part of the Horizon 2020 CROWDTHERMAL project, which aims at empowering the public to directly participate in the development of geothermal projects through social engagement tools and alternative financing schemes, like crowdfunding.

Keywords

• geothermal energy
• decision tree
• social engagement
• alternative financing
• risk mitigation