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The utilization of geothermal energy has been gaining momentum in the past few years, as Europe strives to meet decarbonisation targets and transitioning to sustainable energy. Geothermal energy has the advantage of being a sustainable, reliable, and local source of energy, that does not rely on outside factors, such as wind or sun. The Geothermal Implementation Working Group (IWG) has identified four key priorities; heating & cooling; electricity generation; underground thermal energy storage (UTES); and co-production of minerals and geothermal energy. The Geothermal IWG collects data from its members on the geothermal energy sector in Europe, which reveals that most of the Member States of the Geothermal IWG consider heating and cooling their top priority for R&D spending. Heating is about half of the European energy demand, which further emphasizes the need to include geothermal energy in the energy transition. Underground thermal energy storage (UTES) is also recognized as a key priority amongst many members of the Geothermal IWG. UTES can be used efficiently for heating during winters and cooling during summers, combined with heat pumps. International collaboration is vital for the advancement of geothermal energy. Geothermal energy is a relatively modest part of the energy system and of energy-related R&I in most European countries, apart from Iceland, but has the potential to play a prominent role in the decarbonisation of the energy sector in Europe. Despite the increasing recognition of the potential of geothermal energy, there is not a decisive trend when it comes to geothermal R&D funding in Europe. Data from Member States shows that while some countries have increased their R&D expenditure, others have decreased their R&D budget, demonstrating the need for the Geothermal IWG to actively advocate for an increase in R&D expenditure for geothermal energy across the continent. Most geothermal energy related projects reported by Member States focused on geothermal heating and cooling for buildings or district heating systems utilizing geothermal heating. A similar number of projects focused on geothermal exploration and exploration technologies.