Can Iceland's transition from fossil fuels inspire other countries?

The story of Iceland’s transition from fossil fuels may serve as an inspiration to other countries seeking to increase their share of renewable energy. Was Iceland’s transition a special case that is difficult to replicate, or can it be applied as a model for the rest of the world? Iceland’s energy reality

Will geothermal and hydro power make sense for energy transition in Iceland?

Just as geothermal and hydro power generation made sense for energy transition in Iceland, local conditions elsewhere will determine which renewable resources are the most efficient and how they will be best exploited. Because every country is unique, each transition will be different.

Does Iceland have a geothermal drilling mitigation fund?

To further incentivize geothermal energy utilization, the Government of Iceland established a geothermal drilling mitigation fund in the late 1960s. The fund loaned money for geothermal research and test drilling, while providing cost recovery for failed projects.

Is Iceland a good country for geothermal development?

While Iceland’s story presents valuable lessons for policymakers, the country has mostly focused on sharing its knowledge through technical expertise in geothermal development. For decades, Iceland has been involved in geothermal technical assistance and renewable energy education.

How many hydropower plants were built in Iceland?

In 1950, 530 such small hydropower plants were built in Iceland, creating scattered independent power systems around the country. To further incentivize geothermal energy utilization, the Government of Iceland established a geothermal drilling mitigation fund in the late 1960s.

How did geothermal and hydropower develop in Iceland?

The challenging first steps towards Iceland’s renewable developments, both for geothermal and hydropower, were taken by local entrepreneurs. In the early twentieth century, a farmer found a way to use the hot water seeping out of the ground to develop a primitive geothermal heating system for his farm.