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Since 1985 Switzerland has relied heavily on nuclear power plants, following the passage of the Energy Act last May, the Swiss government has begun preparations for transition into more renewable and sustainable energy, hoping to reduce nuclear, fossil fuel, and natural gas consumption by 20% by 2050.
To this end, the Swiss government is going to invest in the expansion of hydroelectric power (which currently makes up about 56% of all domestic energy production) and in programs to assess costs and begin analysis and construction of Geothermal Energy plants across the nation.
Hydroelectric expansion will be partly funded by a $5,000,000 subsidy provided by the Swiss government to Swiss energy developer Repower, the costs will cover construction of multiple new plants.
Geothermal Development will be overseen by Head of the Federal Department of Environment, Transport, Energy and Communications. The project will be allotted $8,000,000 and the Swiss Government plans to issue open contracts to domestic and European investors for the development of Geothermal Power Plants.
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