© 2021 Iceland Renewable Energy Cluster
About Iceland and Geothermal Energy
What is geothermal energy?
Geothermal energy is thermal energy generated and stored in the Earth. The geothermal energy of the Earth’s crust originates from the original formation of the planet. Geothermal is location specific i.e. a resource must exist. Access to the resource is gained by drilling and getting access to steam or hot water. Geothermal is a base-load renewable energy resources.
What are the benefits of using geothermal energy?
Through proper reservoir management, the rate of energy extraction can be balanced with a reservoir’s natural heat recharge rate.
Geothermal power plants produce electricity consistently, running 24 hours per day / 7 days per week, regardless of weather conditions.
Geothermal power plants are compact; using less land per GWh (404 m2) than coal (3642 m2) wind (1335 m2) or solar PV with center station (3237 m2)
Some hydropower facilities can quickly go from zero power to maximum output. Because hydropower plants can generate power to the grid immediately, they provide essential back-up power during major electricity outages or disruptions.
Modern closed-loop geothermal power plants emit no greenhouse gasses; life cycle GHG emissions (50 g CO2 eq/kWhe) are four times less than solar PV, and six to 20 times lower than natural gas.