Iceland's focus on the transport sector is where they are taking their next step in developing renewable energy. A recent explosion in the number and quality of electric cars shows that people are looking for climate-friendly alternatives. By 2020, the country expects to produce 60 per cent of new vehicles with clean energy, up from only 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 around two years, and it produces renewable methanol.
Geothermal energy
Iceland is known for its long-standing use of geothermal energy as an energy source. 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 plants generate electricity by using hot water directly from the earth. There are many geothermal power plants in the country, including Svartsengi's geothermal plant. It has been operational for 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. A primitive geothermal heating system was developed by an Icelandic farmer in the early twenty-century. It was very successful, and many towns adopted it. Others followed his lead and, with the development of drilling technology borrowed directly from the oil industry it was possible drill deeper and to produce hotter water for heating homes. The demand for electricity from geothermal sources grew as Iceland developed its energy-intensive industries.
Hydroelectricity
The main sources of energy in Iceland are hydroelectricity and geothermal heat. Both of these sources are renewable and provide free hot water. Hydroelectricity, geothermal heating and hydroelectricity are used in Iceland to heat homes and industries. 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 abundant geothermal energy and is capable of producing much more energy than it needs. Iceland is well-placed to build submarine transmission cables to connect to its electrical grid with the U.K. This technology could provide reliable electricity sources and be used as an example for other countries.
In addition to geothermal energy and hydropower, Iceland also has a unique geology, making it possible to produce renewable energy from a variety of sources. The country is located on the Mid-Atlantic Ridge. This is one of the most tectonically active areas in the world. It contains over 200 volcanoes, 600 hot springs, and more than 20 high-temperature steam fields. Many of these fields reach temperatures over 250°C. These features make it possible to harness geothermal energy and harness hydropower through glacial rivers and waterfalls.