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ENERGY IN ICELAND - Orkustofnun

ENERGY IN ICELAND - Orkustofnun

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3 <strong>ENERGY</strong>RESOURCESEnergy reservesOddur SigurðssonIceland has abundant renewable energyresources, both geothermal andhydro. Despite the fact that Icelandpossesses extensive unexploited renewableenergy resources, they arenot unlimited. Only rough estimatesare available on the size of Iceland’senergy reserves. Therefore, there isconsiderable uncertainty involvedin assessing to what extent they canbe harnessed with regards to whatA mudpool.is technically feasible, cost-efficient,and environmentally desirable. Theestimated figures generally proposed for hydropower are 30 TWh annually. For electricityproduction from geothermal resources the figure is 20 TWh annually, giving atotal of 50 TWh per year. These estimates do not include resources that are unlikelyto be developed for environmental reasons or due to prohibitive cost. The estimate,however, does include resources that are currently being utilized.It should, however, be noted that environmental desirability estimates are subjective,and the 30 TWh figure quoted above for hydropower might be an overstatement. Onthe other hand, with technological advances in the harnessing of geothermal powerfor the production of electricity, it is likely that the 20 TWh figure is understated. Thenet result, 50 TWh per year, can therefore be considered a reasonable estimate. Oneof the objectives of the so-called Framework Programme for utilization of Hydro andGeothermal Energy Resources, discussed further in chapter 5, is to evaluate theseresources in more detail.14

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