Is Hungary a geothermal superpower? That might sound like an exaggeration, but it’s not. According to a recent announcement by the Ministry of Energy, a HUF 41 billion support package is being introduced to boost Hungary’s geothermal energy market. This is more than just an energy policy step, it’s an industry explosion that could completely reshape the landscape of the domestic green economy. And most importantly: of the three support programs, the first is currently under public consultation, meaning anyone can still have a say in the details.
What is this all about and why now?
Behind the scenes stands the Jedlik Ányos Energy Program, under which funding for geothermal utilization is being significantly increased. The goal? To double geothermal energy use by 2030. This isn’t wishful thinking - since 2010, production has already quadrupled, and now an even bigger breakthrough is expected.
Who stands to benefit most?
Energy entrepreneurs, municipalities, industrial players—even district heating providers.
Three separate funding calls support entry or expansion:
HUF 10 billion to reduce geothermal drilling risks
- Funding range: HUF 40 million to HUF 1 billion
- Number of supported projects: 10–20 rural sites
- What’s unique: If drilling fails, the state may cover up to half the cost. If it succeeds, it still covers 10% of eligible costs.
This is essentially a subsidy with built-in insurance, drastically reducing entry risks. Public consultation runs until August 15.
HUF 12 billion for geothermal production systems
- Built on existing wells, to develop full-scale geothermal heat/power systems.
- Eligible locations: Anywhere in Hungary except Budapest.
HUF 19 billion in interest-free loans
- For geothermal heat production, optionally covering drilling costs.
But why should you get in now?
- Because this is the "first wave": The permitting system has already been simplified, the Hungarian Geothermal Cluster is active, and the national geothermal research program is underway.
Those who act now can lock in a 10–15-year competitive advantage in energy. - Because green energy has reached strategic priority level: This isn’t CSR or some PR move—this is about energy independence, lower utility costs, and long-term competitiveness.
- Because geothermal is one of the most stable green energy sources: It doesn’t depend on sunshine or wind. It’s available 365 days a year, anytime.
Who is this for?
- Entrepreneurs with a vision in energy: this is your playground.
- Municipalities wanting independence from volatile energy markets: this is your chance.
- Investors seeking the next big breakthrough: geothermal might be it.
Now or never?
Geothermal energy has literally been beneath our feet all along. But now - for the first time - it comes with funding mechanisms, political priority, and a financial safety net.
It’s not a future opportunity - it’s today’s challenge.
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