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Renewables in Iceland are saving 3000 US dollars per capita every year

30.5.2014

Renewables for heating in Iceland is already saving 7% of GDP or equivalent 3000 US $ per capita every year this is stated in the latest newsletter published by Geothermal ERA-NET


In a cold country like Iceland, space heating needs are greater than in most countries. In Reykjavik, extensive distribution of hot water for heating homes began in 1930. Already in the 1940s, the State Electricity Authority promoted geothermal development and carried out a regional survey of geothermal areas suitable for space heating and explored promising fields with exploratory drilling.

“It is important for policymakers and others to recognise the great opportunity geothermal heating gives regarding savings for countries, as it is estimated that geothermal heating in Iceland is saving equal to 7% of GDP or 3000 US$ per capita or close to 1 billion US$ for the economy only for 2012. It has also been estimated that renewables for heating and cooling could save EUR 11.5 billion per year within EU, improve the energy security and mitigate climate change, says Guðni A Jóhannesson Geothermal ERA NET coordinator”

During the first 24 months of the Geothermal ERA NET, the focus has been put on exchanging information on the status of geothermal energy utilization, including national support schemes and research, development and deployment (RD&D) activities and the creation of an inventory report on these activities.

Emphasis has also been put on gaining an understanding of the principal stakeholders, including key industry players for a successful, Europe-wide coordination of publicly funded national research, development, deployment and innovation geothermal energy programmes. Great efforts have also been put on the preparation for a Joint European Data/Information platform called EGIP or European Geothermal Information Platform.

The newsletter can be found here.