Icelanders have been using renewable energy for over a century.
Today, all local electricity and district-heating needs are powered from renewable resources, including hydroelectric and geothermal. By harnessing domestic energy resources, Iceland has dramatically increased its living standards and created tremendous opportunities for energy-dependent industries to produce goods more responsibly.
Electricity production in Iceland
Icelandic renewable energy expertise lies in four areas:
1. Geothermal energy for electricity, district heating, and direct use
- 30% of electricity in Iceland is produced by geothermal energy.
- Geothermal district heating is the norm in Iceland.
- Iceland pioneered the direct and integrated use of geothermal energy which reduces carbon emissions and creates jobs.
2. Hydropower for electricity production
- 70% of electricity in Iceland is produced by hydropower.
- The largest hydro dam in Europe is Kárahnhnjúkar in East Iceland.
3. Power Transmission Systems
- Reliably connecting renewable electricity with end-users.
- Significant expertise in designing power transmission systems to withstand severe climate conditions and natural hazards.
- Environmentally sustainable design.
4. CCUS - Carbon Capture, Utilization, and Storage
- The Carbfix project binds CO2 emissions directly into stone to store underground at an industrial scale.
- E-fuels, such as turning green hydrogen and CO2 from geothermal power plants or other sources into liquid methanol for fuel application, greener chemicals, and products. (P2X & ETL).
CARBFIX AND CLIMEWORKS / OUT OF THIN AIR
On the outskirts of Reykjavík, next to the Hellisheidi geothermal powerplant, CarbFix and Climeworks are extracting CO2 out of thin air and turning it into rock!