Iceland's next step in renewable energy development is focusing on transport. Recent increases in electric vehicles have shown that consumers want climate-friendly options. It is expected that the country will produce 60 percent of its new vehicles with clean-energy by 2020. That's an increase from just 28 per cent in 2019. Iceland has also been a pioneer in carbon capture and utilization and storage (CCUS). Carbfix, which binds carbon dioxide emissions to rock, is one example. This process takes two years and generates renewable methanol.
Geothermal energy
Iceland is well-known for harnessing geothermal power as energy and is a world leader in its development. The country exports its technical expertise and has one of the highest penetration rates of geothermal energy for electricity generation. The country's geothermal power generation plants produce electricity from hot water taken directly from the Earth. There are many geothermal power stations, including the Svartsengi, which has been operating for over 40 years. Svartsengi generates 75 megawatts of electricity from 12 wells, and also provides thermal fluids for district heating.
Local entrepreneurs were instrumental in the development and expansion of geothermal energies. In the beginning of the 20th century, an Iceland farmer created a primitive heating system using geothermal energy. This was very popular and was soon adopted by many municipalities. Many other municipalities followed the example of this farmer and it became possible to drill further and produce more hot water for heating homes. Geothermal electricity generation increased significantly in Iceland as it developed energy intensive industries.
Hydroelectricity
Iceland's major energy sources are hydroelectricity (geothermal heat) and geoelectricity (hydroelectricity). Both these energy sources are renewable and supply hot water for free. Both hydroelectricity and geothermal heat are used for heating the country as well to power homes and industry. Iceland's national grid does not supply enough electricity to meet the demands of the country.
Iceland has huge potential for hydroelectricity, geothermal energies and geothermal energy. It has plenty of geothermal resources and can produce far more energy than its needs. Iceland is well-positioned to construct underwater transmission cables to link its electric grid with the U.K., and other areas. This type of technology can provide a reliable source of electricity and could even serve as a model for other countries.
Iceland's unique geology makes it possible to create renewable energy from different sources. The country is located at the Mid-Atlantic Ridge. It is one of most tectonically active locations in the world. It is home to more than 200 volcanoes, 600 hotsprings, and 20 high-temperature steamfields. These fields can reach temperatures exceeding 250 degrees Celsius. These features allow you to harness geothermal power and hydropower through waterfalls and glacial rivers.