Showing the world how to manage its finances is not the forte of Iceland. But when it comes to showing the world how to go green and reduce the use of fossil fuels, Iceland has a lot to teach us.
Iceland is the role model that every country on earth should be studying. The small country of Iceland, with only about 318,000 inhabitants, leads the world in clean energy production. The country has transformed itself from being largely dependent on coal and oil 30-40 years ago to being essentially independent of all fossil fuels today.
Nearly 100% of Iceland’s energy comes from renewable sources. The only fossil fuels burned in the entire country are for powering automobiles and boats. How is this astonishing feat possible? Read on.
Iceland is the paradigm for using geothermal energy. Blessed with 130 active volcanoes and sitting atop the Mid-Atlantic Ridge that forms the interface between two tectonic plates, the country has access to vast resources of heat energy beneath its land surface. By making a strategic commitment to tap these vast geothermal sources of energy, Iceland has made the practical use of geothermal energy a reality to meet the majority of the energy needs of its government, its businesses, and its citizens. Overall, approximately 72% of Iceland’s energy production is derived from geothermal energy.
The remainder of Iceland’s energy needs is derived from another clean energy source: hydroelectric. Flowing rivers fed by melting glaciers provide a second source of clean electricity. With such abundant sources of clean power, Iceland has been able to support power hungry industries such as aluminum production without the pollution that accompanies it in other parts of the world.
It is worth noting the one of the states of the United States has many of the same geographical features of Iceland. That state is Alaska. If developed properly, the state of Alaska could use the production of geothermal energy as the foundation for future economic growth that would extend far into the future and exist long after oil and gas resources have been depleted. Other states in the “lower 48” also have enormous potential to develop geothermal energy. Included on that list are the western states of Wyoming, Montana, Idaho, Utah, and Colorado. Their location around Yellowstone National Park, which sits atop the Yellowstone Caldera and is famous for its geysers and hot springs, provides an natural advantage for tapping into energy beneath their land surfaces. Since the USA currently only generates about 0.3% of its energy through geothermal sources, the upside is tremendous. Tapping this almost limitless energy source may offer many countries the best long-term solution for meeting their energy needs. And since geothermal energy is domestic energy, the need for importing significant amounts of coal, oil or gas from other nations, some of whom are hostile, is eliminated. Viewed in this way, the development of geothermal energy is not just an energy issue, but also a national security issue.