Address of iceland shared energy storage industrial park

Is Iceland a sustainable country?

Consideration is made for an economically sustainable society and emphasises Iceland’s advantage in sustainable energy production, energy exchange, energy efficiency, and efficient use of multiple energy sources. It outlines Iceland’s goal of 55 per cent reduction in net greenhouse gas emissions by 2030 and carbon neutrality by 2040.

What is geothermal innovation in Iceland?

Geothermal innovation parks in Iceland are making use of the abundant heat, water, and residual electricity and have aided innovation in carbon capture, utilisation, and storage. Iceland sees itself as a rising world leader in geothermal, renewables and associated technology.

When will the sustainable Iceland strategy be released?

The Sustainable Iceland strategy has wide representation, with consultation beginning in May 2023. The draft was published in February 2024 allowing for several months of feedback. Outcomes will be measured against the SDGs and 40 wellbeing indicators.

Does Iceland have geothermal water?

Furthermore, 90 percent of households are heated with Geothermal water in Iceland. As per Geopolitical Gains and Losses after Energy Transition (GeGaLo Index), the country is ranked No. 1 among 156 countries. Furthermore, Iceland will be the greatest winner after the completion of a full-scale transition to renewable energy.

How much electricity does Iceland use?

Similarly, in 2015, Iceland’s electricity consumption was 18,798 GWh whose 100 percent production was made by using renewable sources. 73 percent came from hydropower while 27 percent came from geothermal power. Nevertheless, Glaciers cover 11 percent of Iceland.

What percentage of Iceland's electricity is produced from renewable sources?

Currently, nearly 100 percent of Iceland’s electricity is produced from renewable sources. However, rapid expansion in the country's energy-intensive industry has resulted in a considerable increment in demand for electricity during the last decade.