Iceland Geothermal Cluster
Iceland is uniquely situated in terms of access to a quality resource. The high percentage of geothermal energy as proportion of Iceland’s total primary energy (85%) consumption is unique in the world. Most of the development of geothermal utilization in Iceland has occurred for the last one hundred years or so, especially in the latter half of the 20th century. Iceland is a strong player in the global geothermal market, enjoying the benefits of a powerful geothermal cluster. The cluster’s strength consists of a developed system for using geothermal energy in multiple ways, experienced specialists, and a strong international reputation and network. Icelandic geothermal companies are working on projects in over 50 countries around the world utilizing Iceland’s strenghts in the field.
In 2010 Iceland’s total economic benefit from geothermal was calculated to be between $480-830 million or 4-6% of GDP. This value is derived from space heating benefits, industry benefits, resource leasing, and social impact. Onpower (Reykjavik Energy) is probably the largest geothermal company in the world based on power creation.
Website: Iceland Geothermal